Ever-Glory sales slide
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Chinese fashion retailer Ever-Glory International says its sales fell 11.6 per cent in the three months to June 30.
Total sales for the quarter were US$75.7 million, the slide primarily due to a 6.8 per cent decrease in its retail business to $45.9 million and an 18.1 per cent decrease in its wholesale operation to 29.8 million.
Ever-Glory had 1204 retail stores as at June 30, 49 more than at the same time last year.
Total gross profit for the quarter increased 2.4 per cent to $30 million.
Based in Nanjing, China, Ever-Glory retails branded womens fashion apparel through its own store network under the brands La Go Go, Velwin, Sea To Sky and Idole in China.
Ever-Glory is also a leading global apparel supply chain solution provider with a focus on middle-to-high end casual wear, outerwear, and sportswear brands. Ever-Glory services well-known international brands and retail stores by providing supply chain management, fabric development and design, sampling, sourcing, quality control, manufacturing, logistics, customs clearance and distribution etc.