CHINA: Ever-Glory Q3 profit rises 69.6%
- Q3 profit up 69.6% to $3.9m
- Sales increased 54% to $106.7m
- Gross margin grew to 23.8% versus 22.1%
Higher sales and improved margins have helped Chinese apparel supplier and retailer Ever-Glory International Group to record a 69.6% increase in third-quarter net profit.
The company today (13 November) said net income reached US$3.9m during the three months to 30 September, compared to $2.3m in the same period of last year.
Sales increased 54% to $106.7m from $69.3m in the prior year, helped by higher sales within the company's retail and wholesale businesses. Retail sales from the company's branded retail division La Go Go jumped 74.4% to $42.5m, while wholesale sales increased 42.9% to $64.2m.
The company expects fourth quarter sales to be $80-100m and net income to range from $2.5-3.5m.
Chinese apparel supplier and retailer Ever-Glory International Group has booked a mixed set of results for its full-year as earnings tumbled and sales climbed....
- Traditional financing is a misfit for fast fashion
- Why do modern robotics elude sportswear makers?
- Trump trade policy – Who knows what he'll do?
- Planning is key to an effective inventory strategy
- How would end of NAFTA affect US apparel industry?
- US Q3 in brief - G-III Apparel, Express
- Bagir exports first trousers for H&M from Ethiopia
- Film documents Cambodia garment workers' stories
- Esquel efficiency drive continues to boost brands
- Pakistan suspends India cotton imports
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack