US: RG Barry turnaround takes 87.7% off Q1 loss
Comfort shoe company RG Barry said it narrowed its first-quarter loss by 87.7%, boosted by its turnaround efforts.
Quarterly loss totalled US$111,000 compared to a loss of $91,000 in the same period a year ago. Revenue, meanwhile, went up 1% to $17.16m from $16.99m last year.
CEO Thomas M Von Lehman said: "Our business continues to benefit from the significant changes of the past two years.
"The improvement in SG&A expenses and reduction in interest expense demonstrate that we are maintaining our discipline in managing overhead expenses and working capital."
Von Lehman said North American sales had grown 4%, but that was offset by slightly lower European sales.
Help test our new apparel sourcing tool.
- "Power of the many" drives change at Otto Group
- Hard hit Turkish industry is not knocked out
- China leads US apparel sources with falling prices
- US apparel sector braces for potential cost hikes
- Vietnam grows share of US apparel imports in 2016
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Inditex and H&M boycott Dhaka Apparel Summit
- JC Penney to close 140 stores amid lower sales
- Macy's will "do the right thing", says Lundgren
- Bangladesh crackdown has cost garment sector $100m
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022