CANADA: Far West Slips To Q3 Loss
Sportswear and outerwear maker and distributor Far West Industries Inc on Tuesday said it swung to a small third quarter loss amid a "sluggish" retail environment and late delivery of Concept snowboard apparel.
The British Columbia-based firm reported a net loss of $60,000 for the three months to September 30 versus a year-ago profit of $50,000. Quarterly sales slumped to just over $2 million from nearly $2.9m in 2001.
"In addition to the sluggish retail market for outerwear, the Concept branded snowboard apparel did not arrive from the Orient in time to ship in the third quarter as occurred last year," Far West said, adding: "The Concept product shipments began in early October."
Far West's range of products are sold in Canada, the US, Korea, Australia and Europe.
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