Revenue bumps up 9 per cent for Ever-Glory International

Branded fashion apparel retailer Ever-Glory International Group, based in Nanjing, has recorded a 9.1 per cent year-on-year retail revenue increase for its second quarter.

Total sales for the period eased 1.1 per cent to US$79.8 million, primarily the result of a 12.7 per cent decrease in the group’s wholesale business.

Sales for the company’s branded fashion apparel retail division reached $46.8 million, thanks to increased same-store sales. The company had 1362 retail stores at the end of June, compared with 1275 at the same time last year.

Retail gross profit shot up 20 per cent to $24.8 million for the quarter while gross margin increased to 52.9 per cent from 48.1 per cent a year earlier.

“We maintained our focus on developing retail business through our multi-brand strategy and store network optimisation initiative, while improving our wholesale business by upgrading our customer portfolio,” says president/CEO Yihua Kang.

Following the remodelling or relocation of 86 stores during the quarter, the group ended up with a national network of 1362 stores. New store designs were implemented for its Idole, La Go Go and Sea to Sky brands, with a redesign about to roll out for Velwin.

“Our e-commerce initiative also brought in new branding and cross-selling opportunities as well as a new channel to clear inventory,” says Kang.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.