Sales jump 25% at Joe's Jeans in Q3 FY'12

16 Oct '12

4 min read

Impacting our gross margins in the third quarter of fiscal 2011 was an inventory write down of $1.6 million. For the third quarter, wholesale operating expense decreased to $3.4 million from $3.6 million a year ago. As a result of our improved sales and decreased operating expense, our wholesale operating income increased to $6.5 million in the third quarter of fiscal 2012 compared to $3.1 million in the prior year comparative period.

Mr. Crossman commented, “We continue to be pleased with the growth trajectory of our men’s channel as we continue to take market share from our competitors.” Crossman continued, “In addition, the expansion of our else™ brand with Macy*s from 149 to 314 doors proved to be an added growth driver within our wholesale channel.”

Corporate and Other

For the third quarter of fiscal 2012, our corporate and other expenses were $4.0 million compared to $4.5 million in the third quarter a year ago. Corporate and other expenses decreased due to reduced print and other advertising commitments and professional fees.

Joe’s Jeans Inc. designs, produces and sells apparel and apparel-related products to the retail and premium markets under the Joe's brand and related trademarks.

Joe's Jeans Inc.

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