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Ever-Glory International Group, Inc. (NASDAQ: EVK) reported its Q3 2021 results with total sales of $94.4 million, an 18.1% increase from Q3 2020, driven mainly by a 38% growth in wholesale despite a 7.6% decline in retail sales, which fell to $32.2 million. Gross profit decreased by 2% to $23.2 million with a gross margin drop from 29.6% to 24.6%. The company reported a net loss of $3.2 million, with a loss per share of ($0.22). Cash reserves also fell to $48.3 million from $81.9 million at the end of 2020.
Ever-Glory International Group, Inc. (NASDAQ: EVK) will release its third quarter 2021 financial results on November 12, 2021, prior to U.S. market opening. The company will host an earnings conference call at 7:00 a.m. ET on the same day. Interested parties can join via a toll-free number or an audio webcast available on Ever-Glory's website. A replay will be accessible from 10:00 a.m. ET on November 12 until November 19.
Ever-Glory International Group, Inc. (NASDAQ: EVK) reported a robust 20.9% increase in total sales for Q2 2021, reaching $60.6 million, driven by a 21.7% rise in retail sales and 19.9% in wholesale. Retail gross profit surged 46.7% to $14.8 million, while wholesale gross profit fell 17.5% to $3.6 million. The company reported a net loss of $1.8 million, improved from $3.8 million year-over-year. Cash reserves decreased to $64.0 million as of June 30, 2021. Despite challenges, management remains confident in long-term business prospects.
Ever-Glory International Group, Inc. (NASDAQ: EVK) will release its second quarter 2021 financial results on August 13, 2021, before U.S. trading opens. An earnings conference call is scheduled for 8:00 a.m. Eastern Time on the same day. Interested parties can access the call via the company's website or by dialing in at the provided numbers. Ever-Glory, based in Nanjing, China, is a significant player in the fashion apparel industry, recognized for its branded products and comprehensive supply chain solutions.
Ever-Glory International Group, Inc. (NASDAQ: EVK) has announced a stock repurchase program authorized by its Board of Directors. The Company plans to repurchase up to $5 million of its outstanding common stock by December 31, 2021. The repurchase will occur through various methods, including open market transactions, and aims to enhance shareholder value. CEO Yihua Kang expressed confidence in the company's long-term prospects, viewing the stock as undervalued and recognizing the program as a commitment to increasing shareholder value.
Ever-Glory International Group, Inc. (NASDAQ: EVK) reported a strong performance for Q1 2021 with total sales reaching $70.8 million, a 21.4% increase from Q1 2020. The retail division saw significant growth, with a 32.0% rise in sales to $47.6 million, primarily driven by same-store sales. Total gross profit increased 39.9% to $22.4 million, and gross margin improved to 31.7%. However, the company recorded a net loss of $1.2 million, reduced from $2.7 million a year earlier. The balance sheet reflected $78.1 million in cash as of March 31, 2021.
Ever-Glory International Group (NASDAQ: EVK) announced it will report its first quarter 2021 financial results on May 14, 2021, before U.S. trading opens. A conference call will follow at 8:00 a.m. ET, with details available on the company's investor relations website. Ever-Glory is a leading apparel supply chain management provider based in Nanjing, China, producing brands like 'La go go' and 'Velwin'. The company transitioned to NASDAQ in December 2015, emphasizing its growth in the middle-to-high end casual wear market.
Ever-Glory International Group reported a challenging financial performance for 2020, with total sales of $267.4 million, down 30.2% from 2019. The retail division saw a 20.1% decline to $150.1 million, with a reduction in same-store sales and a decrease in the number of operational stores from 1,101 to 936. However, gross margin improved to 34.1%. The company achieved a net income of $3.3 million, an increase from $1.3 million in 2019, with EPS rising to $0.22. Ever-Glory had $81.9 million in cash as of the end of 2020, reflecting improved liquidity.
Ever-Glory International Group, Inc. (NASDAQ: EVK) will report its fourth quarter 2020 financial results on March 31, 2021, before U.S. trading opens. The management will host an earnings conference call at 8:00 a.m. Eastern Time on the same day. Investors can access the call via toll-free dial-in or through a live audio webcast on the company's investor relations website. A replay of the call will be available from 11:00 a.m. ET on March 31 to 11:59 p.m. ET on April 7.
Ever-Glory International Group, Inc. (NASDAQ: EVK) reported Q3 2020 results, showcasing total sales of $79.9 million, down 29.5% from $113.3 million in Q3 2019. The decline stemmed from a 44.9% drop in wholesale sales, while retail sales rose by 10.3% to $34.8 million, boosted by e-commerce. Gross profit decreased by 2.8% to $23.7 million, but gross margin improved to 29.6%. Operating income soared by 344.5% to $2.8 million. Net income was $2.2 million, compared to a loss of $1.1 million a year prior. Cash and equivalents stood at approximately $70 million as of September 30, 2020.
