Differential Brands’net sales reaches US $ 42 million | Retail News USA
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Differential Brands’ net sales reaches US $ 42 million

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Differential BrandsUS-based Differential Brands Group, which owns various fashion brands, has announced its  fourth quarter and full year financial reports for the year 2016.

The company posted an increase of 108 per cent to US $ 42.0 million and 179 per cent in net  sales and wholesale segment, respectively in its fourth quarter of the year. With the surge of  34 per cent in consumer segment sales, the brand’s gross profit reflects the increase of US $  21.8 million from US $ 12.1 million, and adjusted EBITDA was US $ 2.1 million.

Robert Graham’s shift to fashion basics was well received in the fourth quarter in both  wholesale and retail. Hudson Jeans achieved comparable sales growth due to improved  product quality and fit; besides, Differential completed the integration of Swims during the  quarter.

Also ReadIconix Brand reports a dull fourth quarter

For the full year 2016, the company registered the spate of 104 per cent and 163 per cent in  net sales revenue and wholesale sales revenue, respectively. Consumer direct sales also  increased by 29 per cent and gross profit was 79.5 per cent which also includes the gross  profit of Hudson Jeans and Swims which is approximately US $ 37.2 million.

Michael Buckley, Chief Executive Officer, Differential Brands Group commented, “We are  pleased with the progress we are making on a number of initiatives designed to drive  organic growth across our brands. This includes enhancing product offerings and improving  product sourcing across all brands, making strategic and swift investments in e-commerce,  consolidating operations into a single platform enabling us to leverage talent and expenses,  and building a world class leadership team.”

 

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