For the reported period, gross profit was $344.7 million, an increase of 34 per cent compared to the first quarter of fiscal 2017. Gross profit increased 31 per cent compared to adjusted gross profit for the first quarter of fiscal 2017.
Income from operations was $104.3 million in the first quarter of 2018, an increase of 130 per cent compared to the first quarter of fiscal 2017. Income from operations increased 65 per cent compared to adjusted income from operations for the first quarter of fiscal 2017.
The company ended the first quarter of fiscal 2018 with $966.6 million in cash and cash equivalents compared to $698.3 million at the end of the first quarter of fiscal 2017. Inventories at the end of the first quarter of fiscal 2018 increased 23% to $373.4 million compared to $303.9 million at the end of the first quarter of fiscal 2017. The Company ended the quarter with 411 stores.
"We are pleased with our continued strong results for the first quarter of 2018. This successful start to the year reaffirms our strategic priorities and I would like to thank our team for their passion and commitment to connecting with guests around the world," Glenn Murphy, executive chairman of the board, said.
"Our first quarter results reflect the ongoing strength of our business and our continued focus on product innovation, global growth, digital acceleration, and, most importantly, investing in our people. Our momentum remains strong and we are optimistic for 2018 and beyond." Stuart Haselden, chief operating officer, said.:
For the second quarter of fiscal 2018, the company expects net revenue to be in the range of $660 million to $665 million based on a total comparable sales increase in the high single digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $0.46 to $0.48 for the quarter.
For the full fiscal 2018, net revenue is likely to be in the range of $3.040 billion to $3.075 billion based on a total comparable sales increase in the high single digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $3.10 to $3.18 for the full year. (RR)
Fibre2Fashion News Desk – India
Textiles | On 14th Nov 2018
Vietnam’s 14th National Assembly recently adopted a resolution...
Textiles | On 14th Nov 2018
The European Union (EU) Chamber of Commerce in China has said the...
Apparel/Garments | On 14th Nov 2018
Zimbabwe’s apparel company Archer Clothing is witnessing fears of...
Transparent supply chain and fair trade will boost sustainable market
‘The share of kidswear segment in the online sector is still small in...
We are ready to adopt or follow every opportunity
Conceived in Europe and curated in New Delhi, NeceSera is a...
PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....
<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)
A team of researchers from the State University of New York (SUNY),...
Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...
Usha Social Services
The Usha Silai label from Usha International is all set for a retail...
By Chandani is a womenswear prêt couture brand with fusion silhouettes by...
She has carved a niche for herself as the national brand of Turkey. Her...