• Q3 net loss US$1.5m, down from $1.8m
  • Net sales up 8.4% to $36.3m
  • Boosted by Rio Garment acquisition

Sales growth from its acquisition of Rio Garment helped apparel business Hampshire Group to cut its third quarter loss and increase sales.

Rio added $5.7m to sales in the three months to 29 September, offsetting a $3m drop in Hampshire Brands sales, caused by the wind-down of the Joe Joseph Abboud licensing agreement.

“Operating performance this quarter improved as we leveraged additional sales volume on a lower level of SG&A,” said company CEO Heath Golden.

“We are executing on plan and beginning to realise the benefits of our strategy for Rio Garment, as we develop a more robust product offering, grow its capacity and improve its operations.”