Joe's Jeans Jumps On Q2 Earnings Results
Shares of Joe's Jeans (NASDAQ: JOEZ) are trading higher in the after-hours following the release of its Q2 earnings results. Currently, shares are higher by 2.27%, trading at $0.90; they closed the regular session higher by 2.33%, at $0.88.
Joe's Jeans said that Q2 EPS came in at $0.01 on revenues of $24.7 million; the Street was looking for $0.01 per share on revenues of $22.2 million. Revenues decreased 4.3% year over year.
The growth in retail sales was driven by revenue contribution from growing the store base from 13 to 20 in the comparative periods. Gross margins for the retail segment were 65% compared to 64% in the respective comparative periods.
Overall retail gross margins increased as a result of less promotional activity at the retail stores as well.
Joe's Jeans Inc. is engaged in designing, developing and marketing of its Joe's products, which include denim jeans, related casual wear and accessories. The company sells its products to numerous retailers, which include department stores, specialty stores and distributors worldwide, and through its retail stores.
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