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."


Interviews View All

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On

Follow Fibre2Fashion On


Advanced Search