ISRAEL: Tefron Reports Q3 Profit Rise, First Wal-Mart Order
Sales for the third quarter ended 30 September 2002 increased 3.6 per cent to $50.1 million, against $48.3 million in 2001. Gross profit for the quarter rose 88.0 per cent to $10.5 million (21 per cent of turnover) compared to a $5.6 million (11.6 per cent of turnover) for the third quarter of 2001.
Operating income for the third quarter was $6.0 million (12 per cent of turnover) compared to an operating income of $800,000 (1.7 per cent of turnover) for the same period last year.
In the third quarter of 2002 the company incurred capital loss of $1.8 million, most of which were attributed to costs and accounting fees associated with the sale of 52 per cent of the Health Products Division of its wholly owned subsidiary, Alba Waldensian Inc.
Yos Shiran, chief executive officer of Tefron said: "We estimate that the company's sales and operating results for the fourth quarter will be in line with the third quarter.
"Also looking further ahead into 2003, while our market is characterised by a short visibility, based upon what we are hearing from our customers in the United States considering the possibility of a war in Iraq, we currently expect to report lower sales for the first quarter. We do, however, expect to continue the current levels of sales and operating performance through the rest of 2003.
Companies: Wal-Mart Stores Inc
Help test our new apparel sourcing tool.
Wal-Mart is famous for its everyday low prices. The world's largest company continues to dramatically transform the retail landscape by exploring new growth avenues, selling new categories of merchand...
For the past 20 years Wal-Mart has redefined the way most retailers and manufacturers across channels and categories have done business. Every apparel company has been affected thanks to the retail gi...
Will the US and EU impose limits on Chinese apparel exports, or won't they? And does it matter that much anyway? asks Mike Flanagan...
Textiles and clothing make up Thailand's largest manufacturing industry, with more than 4,500 factories employing over one million people. The sector accounts for approximately 20 per cent of total em...
The world's top retailer, Wal-Mart, has been landed with a lawsuit for allegedly ignoring sweatshop conditions at clothing and toy factories....
Retail giant Wal-Mart Stores Inc has posted a 10.2 per cent second-quarter net sales rise, boosted by strong demand for garment lines such as swimsuits and tank tops....
The world's top retailer, Wal-Mart Stores Inc, has reported a provisional sales increase of approximately 4.5 per cent in June, with better weather encouraging sales of seasonal apparel....
Top global retailer Wal-Mart will soon start work on a CNY100 million footwear logistics centre in the Fujian province of China....
- US apparel sector braces for potential cost hikes
- Trade Tracker – Trump's first weeks, Brexit agenda
- Does a hard Brexit mean hard times for UK fashion?
- Key trade issues facing US textiles and apparel
- Primark challenges critics with cotton initiative
- Li & Fung dropped from Hang Seng Index
- Bangladesh "high threat" for terrorist activity
- Vietnam apparel exports miss 2016 target
- Ralph Lauren new execs to support Way Forward Plan
- H&M leads Better Cotton league
- 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