Ever-Glory sales down to $50 mn in Q2 FY20

Ever-Glory International Group, a Chinese retailer of branded fashion apparel, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Sales during the quarter slipped 35.2 per cent to $50.1 million compared to sales of $77.3 million in same period previous year. Net loss attributable to the company was $3.8 million.

 

Ever-Glory International Group, a Chinese retailer of branded fashion apparel, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Sales during the quarter slipped 35.2 per cent to $50.1 million compared to sales of $77.3 million in same period previous year. Net loss attributable to the company was $3.8 million.#

“During the second quarter, we maintained our focus on developing the retail business through our multi-brand strategy and store network optimisation initiative, while improving our wholesale business by upgrading customer portfolio and enhancing our account receivables,” Yihua Kang, chairman, president and chief executive officer of Ever-Glory, said in a press release.

 

Ever-Glory International Group, a Chinese retailer of branded fashion apparel, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Sales during the quarter slipped 35.2 per cent to $50.1 million compared to sales of $77.3 million in same period previous year. Net loss attributable to the company was $3.8 million.#

“During the second quarter of 2020, our retail brands continue to attract new customers and retain existing customers by focusing on design, quality and value,” Kang said.

 

Ever-Glory International Group, a Chinese retailer of branded fashion apparel, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Sales during the quarter slipped 35.2 per cent to $50.1 million compared to sales of $77.3 million in same period previous year. Net loss attributable to the company was $3.8 million.#

Gross profit for the quarter fell 50.2 per cent to $14.4 million (Q2 FY19: $29.0 million). Operating expenses for the quarter were $18.5 million ($27.0 million).

 

Ever-Glory International Group, a Chinese retailer of branded fashion apparel, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Sales during the quarter slipped 35.2 per cent to $50.1 million compared to sales of $77.3 million in same period previous year. Net loss attributable to the company was $3.8 million.#

Sales of fashion apparel retail division during Q2 FY20 fell 30 per cent to $28.1 million ($40.1 million) due to a decrease in the amounts of stores (935) and same-store sales. 

 

Ever-Glory International Group, a Chinese retailer of branded fashion apparel, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Sales during the quarter slipped 35.2 per cent to $50.1 million compared to sales of $77.3 million in same period previous year. Net loss attributable to the company was $3.8 million.#

While sales of wholesale division dropped 40.8 per cent to $22.0 million ($37.3 million) primarily attributable to a decrease in sales in Hong Kong, Germany, Europe-Other, Mainland China, United Kingdom and United States, partially offset by an increase in sales in Japan.

 

Ever-Glory International Group, a Chinese retailer of branded fashion apparel, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Sales during the quarter slipped 35.2 per cent to $50.1 million compared to sales of $77.3 million in same period previous year. Net loss attributable to the company was $3.8 million.#

Geographically, Ever-Glory’s sales declined in all the regions: China $3.1 million ($6.4 million), Hong Kong China $2.0 million ($6.4 million), UK $0.4 million ($2.0 million), Japan $3.6 million ($4.2 million) and US $10.5 million ($15.8 million).