US: People's Liberation narrows Q1 loss
- Q1 loss narrowed to $1.18m
- Sales climbed 11.0% to $8.4m
- Gross margin rose to 53.6%
Higher sales and better gross margins at its J Lindeberg and William Rast stores have helped casual apparel maker People's Liberation Inc narrow its first quarter losses.
But the Los Angeles based firm still fell short of a profit after higher revenues and cuts in design and sample costs were unable to offset higher fashion show expenses and increased rent and staffing for the company's new stores.
Net loss for the three months to 31 March was $1.18m or $0.03 per share, compared to a loss of $1.63m or $0.05 per share in the same period last year.
Net revenue rose 11.0% to $8.4m, up from $7.5m a year earlier, helped by higher retail sales and sponsorship revenue from the William Rast brand.
Quarterly gross profit increased to $4.5m, a rise of 33.7% on last year's $3.4m. Gross margin improved to 53.6% from 44.5% last time.
Help test our new apparel sourcing tool.
Fashion group Kellwood has appointed the Swedish fashion designer Johan Lindeberg as creative director of BLK DNM, a New York-based denim brand to launch in the US and Europe in February 2011....
High-end casual apparel company People's Liberation posted a narrow second quarter loss after revenues slumped 31.2%, hit by slow sales from its Charlotte Russe distribution and poor wholesale revenue...
- Rana Plaza four years on – Timeline of change
- Trump and Brexit get a dose of pragmatism
- Industry groups reaffirm commitment to Bangladesh
- Using worker surveys to drive supply chain change
- Where does VF supply chain sit in growth strategy?
- Adidas to digitalise Speedfactory concept
- Nike filed patent for "reinforced denim"
- Gap unveils five-year sustainable fibres pledge
- M&S extends sourcing deal with Lindsey brothers
- Adidas and Reebok top transparency index
- 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
- Myanmar - ISA Country Report