US: Phoenix Footwear Q3 profit surges 266%
- Q3 profit up 266% to $267,000
- Sales rose 1.6% to $4.74m
- Gross margin improved to 39.7%
Comfort shoe maker Phoenix Footwear has more than tripled its third-quarter net profit on the back of higher sales and improved margins.
Net income reached US$267,000 or $0.03 per share during the three months ended 29 September, compared to $73,000 or $0.01 per share last year. Operating earnings rose 156% to $619,000.
The Californian-based footwear firm said net sales edged up 1.6% to $4.74m, while gross margin rose to 39.7% compared to 38.2% the prior year.
Year-to-date profit reached $57,000, compared to a loss of $481,000 the same period last year. Sales increased 7.1% to $13.6m for the first nine months of the year.
Comfort shoe maker Phoenix Footwear Group has seen its full-year losses narrow after it was boosted by increased sales of its SoftWalk branded products....
- SOURCING: Production problems weigh on Pakistan
- Cutting-edge companies focus on consumer needs
- Speed to market key to Adidas 2020 growth plan
- Rana Plaza fund call grows as anniversary nears
- SuperGroup to adapt sourcing model for speed
- Major Ethiopia textile build experiences delays
- RFID adoption among retailers near “tipping point”
- Swedish textile water project to expand globally
- PVH “pleased” after swinging to Q4 profit
- Organic cotton assessment tool launches
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of swimwear - forecasts to 2019