Ben Sherman experiences a difficult third quarter
Ben Sherman, the British label owned by American company Oxford Industries, has just experienced a rather difficult third quarter for its current financial year. During that period, its turnover had a 17% decrease; falling from 29.8 to 25.5 million dollars. According to the company, its decrease in net sales was mainly due to the dropping of its women’s wear line and the licensing of its footwear and kids’ businesses. Oxford Industries also points out to the fact that sales were impacted by a decrease in exchange rate between pound sterling and dollar.
Ben Sherman’s Q3 operating income went from $2.3 million in 2009 to $1.7 million over the same period in 2010: a logical consequence of the decrease in net sales.
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