Ever-Glory posts Q3 FY20 gross sales of $80 mn


Ever-Glory Worldwide Group, a Chinese language retailer of branded vogue attire, posted its third quarter (Q3) monetary outcomes for fiscal 2020 ended on September 30. Gross sales throughout the quarter slipped 29.5 per cent to $79.9 million in comparison with gross sales of $113.three million in identical interval earlier 12 months. Web revenue for Q3 was $2.2 million (Q3 FY19: loss $1.zero million).

 

“Throughout the third quarter, we maintained our give attention to growing the retail enterprise via our multi-brand technique and retailer community optimisation initiative, whereas enhancing our wholesale enterprise by upgrading buyer portfolio and enhancing our account receivables,” Yihua Kang, chairman, president and chief govt officer of Ever-Glory, mentioned in a press launch.

 

“Throughout the third quarter of 2020, our retail manufacturers proceed to draw new prospects and retain current prospects by specializing in design, high quality and worth,” Kang mentioned. “Following the remodelling or relocation of 38 shops throughout 2020, we operated a nationwide community of 923 shops as of September 30, 2020.”

 

Gross revenue for the quarter was $23.6 million ($24.three million). Working bills for the quarter have been all the way down to $20.eight million ($25.5 million). Nonetheless, group’s revenue from operations was $2.eight million (loss: $1.1 million).

 

Gross sales of vogue attire retail division throughout Q3 FY20 elevated 10.three per cent to $34.eight million ($31.6 million) because of improve within the e-commerce gross sales. Whereas, gross sales of wholesale division slipped 44.9 per cent to $45.1 million ($81.7 million).

Fibre2Fashion Information Desk (JL)

Ever-Glory Worldwide Group, a Chinese language retailer of branded vogue attire, posted its third quarter (Q3) monetary outcomes for fiscal 2020 ended on September 30. Gross sales throughout the quarter slipped 29.5 per cent to $79.9 million in comparison with gross sales of $113.three million in identical interval earlier 12 months. Web revenue for Q3 was $2.2 million (Q3 FY19: loss $1.zero million).





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