>>
Home / Knowledge / News / Fashion / Branded products revenues drive Ashworth's Q3 sales

Branded products revenues drive Ashworth's Q3 sales

02
Sep '05
Lifestyle apparel firm Ashworth Inc announced financial results for the third quarter ended July 31, 2005.

- Company Grows in Four of Seven Channels/Reports Success in Cross Channel Selling
- Company Reports Quarterly Loss of $3.4 Million Primarily Due to:
- Reserves for liquidation of inventory buildup,
- Higher than expected markdown allowances, and
- Inefficiencies at the Company's U.S. Embroidery and Distribution Center
- Company Lowers Fiscal 2005 Guidance and Issues Preliminary

Fiscal 2006 Revenue Guidance
During the quarter, as compared to a year ago, the Company experienced revenue growth in its international golf channel, its corporate distribution channel, its Gekko brands headwear lines and its Company-owned outlet stores. Revenues declined in the Company's domestic golf channel due to continued softness in the US golf industry.

Revenues in the retail distribution channel were adversely impacted by higher than expected markdown allowances due to a highly promotional retail environment as well as lower than anticipated product performance at retail.

The Company experienced a net loss in the quarter due to increased markdown allowances from lower than anticipated full priced sell-through of the Ashworth and Callaway Golf apparel lines, an increase in inventory reserves due to a significant build up of excess domestic inventory in the third quarter, inefficiencies at the Company's US Embroidery and Distribution Center (EDC) and increases in SG&A expenses from higher selling and promotional costs and higher than anticipated Sarbanes-Oxley compliance expenses.


Must ReadView All

Pic: Dreamstime.com

Apparel/Garments | On 22nd Jan 2022

Dhaka, Berlin sign €20.15-mn pact to improve RMG workers conditions

Bangladesh and Germany have signed an agreement to support five...

Pic: Shutterstock

Apparel/Garments | On 22nd Jan 2022

UKVFTA brings positive results to bilateral trade: Vietnamese ministry

The recently effective UK-Vietnam FTA has led to positive outcomes,...

Pic: Shutterstock

Apparel/Garments | On 22nd Jan 2022

Cambodia approves new projects worth $1.9 bn, including 2 garment ones

The Council for the Development of Cambodia has approved 10 projects...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Hopeful that issue will be resolved by first half of 2022

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Sanjay Jhunjhunwalla,

Sanjay Jhunjhunwalla

In the financial hub of eastern India, Kolkata, a humble production...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Dr. Sean Blamires, Evolution and Ecology Research Centre

Dr. Sean Blamires
Evolution and Ecology Research Centre

Using spider silk for clothing may not seem to be an attractive...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Kamal Khushlani, Mufti

Kamal Khushlani
Mufti

Based out of Mumbai, Mufti is a men’s clothing fashion brand. In an...

Bani Pasricha,  Label - Bani Pasricha

Bani Pasricha
Label - Bani Pasricha

An Indian fashion-designer and a recipient of one of the most prestigious...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

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

ESTEEMED CLIENTS

Sportswear Company Spa
BIANCA
Hela Clothing Pvt Ltd
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Gloria Jeans
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Green Fibre
Seasalt Limited
Lifestyle
Desigual - ABASIC, S.A.
THE BOMBAY DYEING ;& MFG.CO. LTD
Decathlon
TESCO INTERNATIONAL SOURCING LIMITED
Puma
Tory Burch Hong Kong Ltd
OVS Hong Kong Sourcing Ltd.
Varner AS Retail
Sateri (Jiujiang) Fiber Co.,Ltd
Vardhman Textile Ltd
Rosset ;& Cia Limited
The LYCRA Company Singapore  Pte. Ltd
Landmark Group
Splash
C;&A Sourcing International Ltd
Esprit Europe Services GmbH
Target Corporation (MN)
International Textile Manufacturers Federation
Calvin Klein
Phong Phu international JSC (PPJ)
Page Industries Limited (Bangalore)
Tommy Hilfiger
Lacoste (Wanchai)
John Varvatos
Under Armour Global Sourcing Ltd
Groz-Beckert East Asia LLP
KIABI
Amazon China
NITI Aayog
Babyshop
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Truetzschler India Private Limited
Rayonese Textile Inc., Division de Culp Inc.
Tchibo GmbH
Chori Company Limited
SHAHI Exports Pvt Ltd
H;&M Hennes ;& Mauritz (Far East) Ltd
Benetton Group
G-Star Raw C.V.
Lululemon Athletica Inc
Sportmaster Ltd.
Cat Tuong Real Estate Group Joint Stock Company
Abit
Helly Hansen Far East Ltd
Chico’ FAS
KAS Direct Sourcing
Maceton Limited
Vianney Textil Hogar S.A. De C.V.
Aquarelle Clothing Limited
LC Waikiki
Brandix Lanka Limited
Permoda(Koaj/Armi/Pronto/Bkul)
Asos
Aramark Uniform ;& Career Apparel, LLC
Reiter India Private Limited
Etam Group Strategy Hong Kong Limited
IKEA of Sweden AB
Gatsby Africa
Lisa S.P.A.
Walmart
Gap International Sourcing Limited
Huntsman (Singapore) Pte Ltd
Arvind Limited
The Top Form Brassiere Manufacturing Company Limited
Recron Polyester from Reliance Industries Limited
MAS Active / MAS Kreeda / MAS Bodyline
Gokaldas Exports Limited
Lenzing Aktiengesellschaft
Sainsbury's Argos Asia Limited
J ;& P Coats
Grasim Industries Limited
Hirdaramani International Export Private Limited
Midas Clothing Limited
Boardriders Asia Sourcing Limited
Guess Europe Sagl,
SYNERGIES HONG KONG LIMITED
PVH Corporation
Restoque S.A.
BIMBA ;& LOLA SL
Alix Partners
T.T. Limited

January 2022

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


Advanced Search