• Q2 net earnings of $201,000
  • Net loss of $5.1m in Q2 last year
  • Net sales of $3.8m down 5%

California-based Phoenix Footwear Group has improved Q2 sales leading to a profit for the period, with a mixture of brand performance.

For the current quarter, net sales of Trotters increased by 10%, while net sales of SoftWalk and Trask decreased by 17% and 47%, respectively.

Russell Hall, CEO of Phoenix, said: "The second quarter is always our seasonally weakest of the year. Additionally, our results this quarter were heavily impacted by retailers' reorder activity.

"We experienced solid demand for our products and good sell through at retail, however customers' efforts to minimize their inventories generated weaker follow on sales for the quarter than would otherwise have been normal.

"In addition to our sales efforts, we have also taken steps to further reduce our SG&A expenses by approximately $700,000 annually. These savings will begin to be realised during the fourth quarter. Our singular focus remains to return to operating profitability by accelerating sales and tightly controlling our costs."

Click here to view the company's full financial statement.