Tristate Holdings’ losses increase

Apparel group Tristate Holdings is expecting to move deeper into the red, according to its preliminary figures for last year.

It says two factors are mainly responsible for the increased loss…

  1. Last year’s consultancy fee income from the Jack Wolfskin China business was substantially lower than that of 2015 because of a different basis of calculation. This, together with the persisting soft China retail market, impacted the performance of its China distribution business.
  2. The group continued brand investment last year, in particular the brand CP Company acquired by the group in late 2015. Throughout the year, the group has been setting up the CP Company’s global organisation. The brand contributed revenue to the group only from the second half of the year.

Tristate Holdings’ audited annual results are expected to be released late this month.

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