US: Phoenix Footwear narrows Q4 losses
- Q4 net loss narrowed to US$140,000
- Net sales grow 40.2%
Comfort shoe maker Phoenix Footwear Group has narrowed its fourth-quarter net loss and booked an increase in revenues.
The company recorded a net loss of US$140,000 in the three months ended 28 December. This compared to losses of $541,000 a year earlier.
The company benefited from a joint licensing agreement it entered into with ABC/Disney Studios to develop and market professional footwear for the medical community. During the quarter, Phoenix launched the line with a 60-day exclusive partnership with retailer Scrubs and Beyond.
Net sales increased 40.2% in the quarter to $4.4m compared to $3.1m in the year ago period.
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