US: Joe's Jeans swings to Q1 profit
Los Angeles based clothing maker Joe's Jeans Inc has swung to a first quarter profit on higher sales of its Joe's brand and continued improvements to gross margins.
For the three months to 29 February, net income was $843,000, compared to a net loss of $173,000 in the first quarter last year. This translates to earnings of $0.01 per share.
Net sales in the quarter rose 10% to $15.2m from $13.8m a year ago. Gross margins were up to 45% compared to 37% in the prior year period.
Marc Crossman, president and chief executive officer, said the sales growth was driven "by solid performance in our women's domestic business, strong growth in our men's line and gains in international sales."
Help test our new apparel sourcing tool.
Second quarter profit at apparel maker Joe's Jeans Inc has more than quadrupled on higher sales and better margins, coinciding with the signing of its first full-price Joe's retail store in Chicago th...
- Rana Plaza four years on – Timeline of change
- Why collaboration is key to fashion supply chains
- Industry groups reaffirm commitment to Bangladesh
- Trump and Brexit get a dose of pragmatism
- Using worker surveys to drive supply chain change
- Adidas to digitalise Speedfactory concept
- Nike filed patent for "reinforced denim"
- M&S extends sourcing deal with Lindsey brothers
- Gap unveils five-year sustainable fibres pledge
- US Q1 in brief – Columbia Sportswear, Amazon
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Outdoor performance apparel 2016: A broader perspective