Joe's reported year over year increases in consolidated first quarter net sales, up 61% to $47.3 million from $29.4 million; wholesale net sales, up 72%; and retail store net sales, up 22%.
Year over year gross profit for the first quarter increased 50% to $21.5 million from $14.3 million.
First quarter 2014 results are the first full quarter results available since the company acquired Hudson Clothing Holdings on Sept 30, 2013.
TheStreet Ratings team rates JOE'S JEANS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate JOE'S JEANS INC (JOEZ) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: