US: RG Barry Q1 profit slides as sales decline
- Q1 profit fell 11% to $6.1m
- Sales down 6% to $47.2m
- CEO said results were "in line with expectations"
Footwear and accessories maker RG Barry has today (6 November) seen its first-quarter net profit slide 11% on the back of falling sales.
Net earnings dipped to US$6.1m during the thirteen weeks ended 29 September, compared to $6.9m the same period last year. Operating profit declined 12.7% to $9.9m.
Net sales slipped 6% to $47.2m, with higher footwear sales in newer retail channels, including catalogues, online and home shopping, unable to offset softer sales in more traditional channels.
"These results are in line with our expectations for the quarter and with the direction we provided in our two previous earnings calls," said CEO and president Greg Tunney.
"Footwear remains our largest business, and it is performing quite well despite the impact of customer internal issues that frequently disrupt retailers. As we enter the critical holiday selling season, we are enthusiastic about our prospects."
Footwear and accessories maker RG Barry has today (5 February) reported that its first-half profit fell 13.6% on the back of declining footwear sales - but said its performance was in line with its ex...
- New American Apparel CEO sees solid platform
- Outlook 2015: What's happening with sourcing?
- George at Asda on responsible retail journey
- Outlook 2015: Challenges and opportunities
- Philippines garment sector upbeat over EU GSP+
- EU exploring responsible garment supply chains
- Tommy Hilfiger digital showroom to reduce samples
- Fashion brands facing strong dollar “headwind”
- Adidas sells Rockport for $280m to focus on sports
- C&A to boost opportunities for women in India
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- E-Textiles: Electronic Textiles 2014-2024
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead