Home / Knowledge / News / Apparel/Garments / Specialty apparel store Harold's posts Q1 results

Specialty apparel store Harold's posts Q1 results

16
Jul '07
Harold's Stores Inc, a chain of upscale ladies' and men's specialty apparel stores, announced results of its first fiscal quarter ended May 5, 2007.

For the first quarter, the Company reported a net loss of $489,000 or $0.08 per diluted and basic share, compared to a net loss of $931,000, or $0.21 per diluted and basic share in the previous year.

“Our first quarter operating performance was considerably improved over the prior year, as we shifted to operating income of $402,000 as compared to an operating loss of $479,000 in the prior year,” said Ron Staffieri, Chief Executive Officer. “Total sales increased 6.2% for the quarter demonstrating improved customer responses to the merchandise offerings.”

Net sales for the 13 weeks ended May 5, 2007 were $22.4 million, up from $21.1 million for the 13 weeks ended April 29, 2006. Comparable store sales decreased 0.5%, with full-price retail store sales increasing by 0.1%, and outlet store sales declining by 12.4%. Direct (internet and catalog) sales were $1.5 million, 34.3% more than last year.

Gross margins improved from 36.5% to 37.9%, and selling, general and administrative expenses were lower both in the aggregate and as a percentage of sales. However, interest expense nearly doubled for the quarter due to additional long-term financings during the course of the past year.

Mr. Staffieri added, “At the end of the quarter, our merchandise inventories were 7.3% lower than the levelof last year, due to a combination of reduced ownership of prior season inventory and ongoing efforts to purchase at levels more appropriate to sales.”

Founded in 1948 and headquartered in Dallas, Texas, Harold's Stores Inc, currently operates 43 upscale ladies' and men's specialty stores in 20 states. The Company's Houston locations are known as “Harold Powell.”

Harold's Stores Inc


Must ReadView All

Pic: Aura Blockchain Consortium

Fashion | On 21st Apr 2021

LVMH, Prada and Cartier form world's first global luxury blockchain

Three major luxury names—LVMH, Prada and Cartier, part of...

Pic: Shutterstock

Textiles | On 21st Apr 2021

India-Bangladesh MoU on cooperation in trade remedial measures

India's Cabinet chaired by Prime Minister Narendra Modi has given its ...

Pic: Infinited Fiber Company

Textiles | On 21st Apr 2021

Infinited Fiber plans to build €220 mn flagship factory in Finland

Circular fashion and textile technology group Infinited Fiber Company ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Textile Industry, Head honchos

Textile Industry
Head honchos

Consumer sentiment will be conservative after lockdown

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search