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

Specialty apparel store Harold's posts Q1 results

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: Shutterstock

Textiles | On 25th Feb 2020

US surpasses China as India's biggest trading partner

The United States has surpassed China to become India's top trading...

Pic: Shutterstock

Textiles | On 25th Feb 2020

COVID-19 puts break on India’s raw material import

Novel coronavirus (n-CoV or COVID-19) epidemic has taken more than...

Pic: Shutterstock

Textiles | On 25th Feb 2020

Coronavirus may shift buyers to Turkey, fuel cotton growth

The coronavirus outbreak will cause a possible shrinking of China's...

Interviews View All

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

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

Advanced Search