NANTUCKET CUTS LOSSES IN SECOND QUARTER

NEW YORK--Nantucket Industries narrowed its loss to $44,537 in the second quarter from $343,333 a year ago.
Sales in the three months ended Aug. 27 slid 8.3 percent to $9.2 million from $10 million.
In the half ended Aug. 27, Nantucket widened its loss to $493,118 from $406,585 a year earlier. Sales fell 13 percent to $17.7 million from $20.4 million. The firm noted that the elimination of certain product lines, while boosting gross margins, hurt sales in the latest quarter and the half.
Nantucket currently makes men's underwear under various licensed labels, including Guess, and also makes women's innerwear under the Guess label.
Nantucket said that sales of the Guess product line "continued to develop as production flow improved."--Fairchild News Service

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus