USA: Nitches Posts $500,000 Fall In Sales
Garment distributor Nitches Inc reported a drop in third-quarter sales on a fall in unit sales in its sleepwear collection.
For the three months ended 30 November 2004, net sales totalled $6.3 million compared to $6.8m for the first quarter of 2004. Net loss for the quarter totalled $12,000 compared to net income of $489,000 for the year-ago period.
Results for the current period incorporate a non-cash income of $159,000 connected to the company's 28 per cent interest in Designer Intimates Inc, which it acquired in October 2002. Net income for the prior period included a non-cash income from Designer Intimates of $468,000.
Nitches Inc is an importer and wholesale distributor of men's and women's garments, manufactured to specifications primarily in foreign countries.
Apparel company Nitches reversed a US$12,000 loss in the first quarter of the last financial year with a net income of $520,000 this financial year - following the acquisition of Designer Intimates. ...
Nitches has entered a licensing partnership with the Levi Strauss & Co brand Dockers for men's swimwear, graphic t-shirts and casual knit tops. ...
Niche-market apparel company Nitches said it has completed the acquisition of Designer Intimates' stock and now owns 100 per cent of the company....
Garment importer and wholesaler Nitches Inc has reported a third-quarter net sales slump after unit sales in the Newport Blue licensed men's line faltered....
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