USA: Sweater Firm Hampshire Posts Jump In Q1 Sales
Sweater maker Hampshire Group Ltd on Wednesday posted a slight rise in first quarter net profit to $1.1 million on the back of a better-than-expected rise in sales to $51.2m from $42.9m in the year-ago period. The South Carolina-based firm said although net sales exceeded expectations, gross margins were lower because of a difficult retail market and additional costs due to the replacement of a major supplier.
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