Last Issue

Login

Newsletter

Please submit your email address here

Who advertise with us

  • 100---Copy
  • 100

Exhibition Status Update!

With 3 weeks until SHOWTIME, the 20th Anniversary edition welcomes an All-Star cast of new and returning exhibitors, making up the largest DOMOTEX asia/CHINAFLOOR to date. Due to high demand in all product...

Global designers to exhibit at Luxury Br…

Designers from Europe, Middle East and North America will exhibit at the upcoming Luxury Brands Carpet Show. The second edition of the curated Luxury Brands exhibition and designer carpet collection is scheduled to...

H&M to dress Swedish teams for Olymp…

Hennes and Mauritz Group (H&M) will dress the Swedish teams for the Winter Olympics and Paralympics in PyeongChang 2018. The company will create outfits for the opening and closing ceremonies. The collection will...

Saurer to show Allma TechnoCorder TC2 at…

Saurer Technologies GmbH & Co. KG Twisting Solutions, a leading provider of energy efficient solutions for tire cord, carpet, staple, glass filament, and industrial yarns, will present its Allma TechnoCorder TC2 innovative machine...

Cone Denim and Unifi launch S Gene with …

Cone Denim and Unifi have launched the latest in advanced stretch technology - S Gene with Repreve . Combining the advanced stretch technology of S Gene with the superior sustainability and performance of...

Shima Seiki to partake in Premiere Visio…

Leading computerised knitting machine developer, Shima Seiki Mfg., Ltd., is set to participate at the Premiere Vision show, a global event for fashion professionals, to be held in Paris, from February 13 to 15, 2018...

Measurably more productive and econom- i…

Even if the winding machine is only responsible for about 10-15% of the energy consumption (compressed air and electrical energy) when considering the classic ring spinning process, these criteria play an important role...

Wool to dominate at Intertextile Shangha…

Some 3,300 exhibitors from around 20 countries covering all apparel fabrics and accessories product groups are expected at the Spring Edition of the industry’s most comprehensive sourcing platform for the spring/summer season, Intertextile...

Marginal rise in Q1 FY’14 sales at Hancock Fabrics

Marginal rise in Q1 FY’14 sales at Hancock Fabrics

(United States Of America)

Hancock Fabrics, Inc. announced continuing improvement in financial results for its first quarter ended April 27, 2013.

Financial results for the first quarter include:

- Net sales for the quarter were $63.7 million compared to $63.9 million for the first quarter of last year. Comparable store sales for the quarter were flat after a 3.5% increase for the first quarter of last year.

- Gross profit for the quarter increased by 470 basis points to 45.5% compared to 40.8% in the first quarter of last year. This equates to an improvement of $2.9 million.

- Selling, general and administrative expenses for the quarter, including depreciation and amortization, increased this quarter by 80 basis points to 43.5% of sales from 42.7% of sales in the prior year first quarter. The increase is due to a one-time insurance settlement gain in the first quarter last year and increasing benefit costs in the current quarter. These impacts have been partially offset by expense controls that have been implemented.

- Operating income increased 209% to $1.3 million compared to an operating loss of $1.2 million in the first quarter last year; this is an increase of $2.5 million and represents an increase of 390 basis points as a percentage of sales.

- EBITDA, which is earnings before interest, taxes, depreciation and amortization, a non-GAAP measure, increased $2.3 million to $2.5 million this quarter compared to $207 thousand for the first quarter of last year.

- Net loss was $0.5 million, or $0.02 per basic share, in the first quarter of fiscal 2013 an improvement of $1.9 million compared to a net loss of $2.4 million, or $0.12 per basic share in the first quarter of fiscal 2012.

- At quarter end, the Company had outstanding borrowings under its revolving line of credit of $46.1 million, term loans of $15.0 million and outstanding letters of credit of $6.4 million. Additional amounts available to borrow under its revolving line of credit at the end of the quarter were $19.8 million. The balance of the Company’s subordinated debt was $8.2 million at quarter end.

Commenting on the results, Steve Morgan, President and Chief Executive Officer said, “We are glad to report the ongoing improvement in operating income. This quarter saw a 209% increase in operating income and for the first time since 2010, we have had positive operating income in the first quarter.

"This is an encouraging accomplishment, even as top line sales were hurt from the unusual weather losses we had this spring, we were able to drive gross profit improvements. These gains continue the trend from the fourth quarter last year and we continue to strive to enhance this as we move forward in 2013.”

Store Openings, Closings and Remodels

During the first quarter 2013, the Company opened one store, closed one store and relocated one unit, ending the quarter with 261 stores.

Hancock Fabrics, Inc. is committed to being the inspirational authority in fabric and sewing, serving creative enthusiasts with a complete selection of fashion and home decorating textiles, sewing accessories, needlecraft supplies and sewing machines. The Company currently operates 261 retail stores in 37 states and an Internet store


Hancock Fabrics

Textile News

new and captivating world of trends, inn…

interview with Domotex Director / Ms. Susanne Klaproth   Could you please give us a br...

Sellers,The Carpet Finishing Machinery S…

  Interview with Mr Roozbeh Moravej Mr Roozbeh Moravej is the new face of the British ...

Destructive competition among producers …

  In this issue of the magazine we have an interview with Masoud Kamali ardakani former...

The knowledge of melt-sminning machinery…

  Interview with Mohammad Ali Zare Manager of STIM Group   KJT: Please gave a detaile...

Kohan Textile Journal interview with Loe…

Mr. Silvano Auciello / Sales Director   1.  Could you please let us know about your su...

Interview with Messe Frankfurt (HK) Limi…

“The gateway to Asia's home living” this is your slogan. Could you please explain why ...

Arab Carpet and Flooring Expo 2017

Interview with “Ms. Dyan Balgos” who is the “Marketing Manager” for “Arab Carpet and Floor...

Farsh Online: New window to Carpet E-com…

  Online Carpet Sale: Still Accelerating Farsh Online is the first online carpet sale in...

Zartosht; An Experience Ranging from Han…

Kohan Textile Journal Zartosht; An Experience Ranging from Hand-woven to Machine-made C...

Dr. Karegar speaks on return of Iranian …

Kohan Textile Journal Dr. Karegar speaks on return of Iranian carpet to America: India...

Salehi: My Biggest Challenge with Produc…

        Kohan Textile Journal In an Interview with Winner of Designing Prize in a C...

Farahi: We are satisfied with our partic…

        kohan textile journal Ali Farahi (Eng.), is a member of Farahi family who m...

Interview with Mrs Regina Brückner

Kohan Textile Journal Interview with Mrs Regina Brückner, Chairperson, VDMA Textile Mac...

Interview with Ms Wendy Wen

Kohan Textile Journal Interview with Ms Wendy Wen, Senior General Manager, Messe Frankf...

Interview with Mr. Xie Xi

Kohan Textile Journal Interview with Mr. Xie Xi, Sales Director, Greater China Region, ...

Interview with Mr. HE Tong Tong

kohan Textile Journal Interview with Mr. HE Tong Tong, General Manager, SHENZHEN HOMER ...

5Q: Get to know Southwest ChemDry

Southwest ChemDry owners Clancy and Rosemary Byrne . ...

Persian Sarouk rugs are highly regarded

Persian Sarouk rugs are highly regarded ...

Interview with Mr. Hamidreza Moshiri

Kohan Textile Journal Interview with Mr. Hamidreza Moshiri, Managing Director of Mashha...

Interview with Mr. Morteza Ghahari

Kohan Textile Journal Interview with Mr. Morteza Ghahari, Managing Director of Khatereh...

interview with Mr. Saleh Nasser Alsoray…

interview with Mr. Saleh Nasser Alsorayai Managing Director of Alsorayai Machine ...

Interview with Mr. Ziadi

Baradaran-e Ziadi Carpet Company has an outstanding experience in the business of handma...

Interview Mr. Ahmad Sadeghian

Kohan Textile Journal interview with Mr. Ahmad Sadeghian (General Manager of Setareh Ka...

Interview with Mrs Ulrike Wechsung

Kohan Textile Journal Interview with Mrs Ulrike Wechsung Director of Heimtextil Exhibi...

Interview with Mrs Mara Bormann

Good looking and waterproof: Fabrics for Yachting ...

Contact Us

اینستاگرام فیسبوک گوگل پلاس توییتر خبر خوان

 
Kohan Textile Journal

Middle East Textile Journal

Phone: ( +9821) 77245780

Fax: (+9821) 77243296

Internet: www.kohanjournal.com

Email: info@kohanjournal.com

P.O Box: 16765 - 465 – Tehran – Iran

Istanbul Office: 0090 539 234 6324

Add to your Skype : ghasemi.behnam

Subscription Form