• Q3 profit slides 47% to $2.7m 
  • Sales down 15.3% to $118.6m

Chinese apparel retailer Ever-Glory International Group reported another mixed performance during the third quarter, with profit plummeting 47%, while margins improved year-on-year. 

Net income amounted to US$2.7m for the three months to 30 September, compared to $5.1m in the same period of the prior year. 

Sales fell 15.3% to $118.6m from $139.9m last year, due to a 21.1% decline in retail sales to $47.3m and a 10.9% drop in sales at its wholesale business to $71.3m. 

However, gross margin increased 310 basis points to 27.3% from 24.2% a year ago. 

Selling expenses increased 7.8% to $19.2, while general and administrative expenses fell 3.8% to $9.3m.