This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Joe’s Jeans Reports 25% Increase In Net Sales For The 3rd Quarter Of Fiscal 2012

Stocks in this article: JOEZ

Retail

Net sales from our retail segment in the third quarter increased 24% to $5.5 million compared to $4.4 million in the prior year comparative period. The growth in retail sales was driven by a 7% same store sales increase and revenue contribution from 25 stores compared to 21 stores in the prior year period. Gross margins for our retail segment increased to 71% from 67% in the year ago period. Excluding the asset impairment charge a year ago, retail operating expense increased due to the expansion of our store base. Overall, for the third quarter of fiscal 2012, we had operating income of $140,000 compared to an operating loss of $1.3 million a year ago for our retail segment.

Mr. Crossman commented, “Our retail sales continue to perform well above our expectations, and in particular, our full price retail stores. Our full price retail stores continued to post double digit same store sales gains.”

Wholesale

Net sales for our wholesale segment in the third quarter of fiscal 2012 increased 26% to $24.8 million from $19.7 million in the prior year period. Sales gains came from our Joe’s men’s and international sales channels and the addition of sales from our new brand, else™. Gross margins for our wholesale segment were 40% for the third quarter of fiscal 2012 compared to 34% in the prior year comparable quarter. Impacting our gross margins in the third quarter of fiscal 2011 was an inventory write down of $1.6 million. For the third quarter, wholesale operating expense decreased to $3.4 million from $3.6 million a year ago. As a result of our improved sales and decreased operating expense, our wholesale operating income increased to $6.5 million in the third quarter of fiscal 2012 compared to $3.1 million in the prior year comparative period.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs