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Fiscal 2011 gross profit was $160.6 million compared to $147.1 million for fiscal 2010. Fiscal 2011 gross margin was 18.9 percent compared to 18.6 percent for fiscal 2010. The increase in gross profit was due to higher gross profit per unit and 5 percent fewer units sold. The increase in gross profit per unit is attributable to management's continued focus on improved pricing and purchasing activities which led to a 15 percent increase in gross profit per unit compared to fiscal 2010. Fiscal 2010 gross profit included the recognition of approximately $13.0 million for inventory gains resulting from the rising cotton apparel prices partially offset by the $6.5 million increase to inventory reserves previously noted.
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- Companies:
- Broder Bros.
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