Home / Knowledge / News / Fashion / Joe's Jeans sees strong growth in men's line

Joe's Jeans sees strong growth in men's line

15
Apr '08
Joe's Jeans Inc announced financial results for the first quarter ended February 29, 2008. Highlights were:

• Gross sales increased 23% over the first quarter of 2007, exceeding gross sales guidance of 15% growth by 8 percentage points.
• Net sales improved 10% to $15.2 million compared to $13.8 million in the first quarter of 2007 which included an increase of $975,000 in the prior year period relating to an adjustment for returns.
• Gross margins of 45% compared to 37% in the prior year period and a 300 basis point improvement over gross margins of 42% in the fourth quarter of 2007.
• Fourth consecutive quarter of profitability with net income of $843,000 compared to a net loss of $173,000 in the first quarter of 2007, translating into earnings per share of $0.01 on a fully diluted basis.
• Announcement of two retail outlet stores for Fall 2008 at Woodbury Common Premium Outlets in New York and Orlando Premium Outlets in Florida.

Marc Crossman, President and Chief Executive Officer, commented, "We are very pleased to start 2008 off with a strong first quarter. These financial results reflect continued sales growth of the Joe's brand, as well as continued increases to our gross margins.

The sales growth continues to be driven primarily by solid performance in our women's domestic business, strong growth in our men's line and gains in international sales as a result of recent efforts to realign our business overseas. Additionally,we are extremely excited to be opening retail stores in 2008, and believe all of these efforts will lead to long-term success for the Joe's brand and its shareholders."


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 25th Nov 2020

Bangladesh reduces REX fee for RMG export to EU

Bangladesh's Export Promotion Bureau recently reduced the service...

Pic: Shutterstock

Textiles | On 25th Nov 2020

EACHAM-LOBA MoU to improve logistics between Cambodia, PRC

Cambodia's Logistics Business Association (LOBA) and the European...

Pic: Shutterstock

Apparel/Garments | On 25th Nov 2020

JETRO, Bangladesh's CCCI sign MoU to foster trade ties

The Japan External Trade Organisation (JETRO) and Chittagong Chamber...

Interviews View All

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


November 2020

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


Advanced Search