US: People’s Liberation swings to Q2 profit
- Net income reverses prior-year loss
- Sales increased 47.5%
- Exclusive Charlotte Russe deal pays off
The company, whose brands include William Rast, People's Liberation and J Lindeberg, said sales soared 47.5% to $9.9m from $6.7m a year ago.
Sales were not only lifted by the deal with Charlotte Russe, but also from wholesale and retail sales of the company's apparel line, J Lindeberg, which began in July of last year.
Net income for the three months to 30 June was $0.8m, reversing a net loss of $0.1m in the same period last year.
"This is one of the toughest economies we have experienced in many years, and the resiliency of our brands and the gross margins we have maintained are very encouraging," said CEO Colin Dyne.
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