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Hudson Jeans Boosts Differential Brands Group’s Q1

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Differential Brands Group, parent company to Hudson Jeans, saw a double-digit net sales increase in the first quarter of 2017.

Net sales for the company increased 19 percent to $40.1 million during the first quarter, while e-commerce sales grew 46 percent. The company’s wholesale sector increased 22 percent. Differential Brands Group also saw a 9 percent increase in consumer direct segment sales—with Hudson Jeans acting as a driving factor.

Gross profit increased to $18.6 million in the first quarter, up from $16.3 million during the same period last year. Hudson and footwear brand Swims sales comprised $10.7 million of the company’s total gross profit.

Total company gross margin dropped to 46.6%, compared to 48.5% during the same period last year, mostly due to Hudson Jeans and Swims carrying lower gross margin rates due to the brands’ large wholesale businesses.

Differential Brands Group saw a net loss from continuing operations of $2.4 million, or $0.18 per share for three months ending March 31, 2017, compared to a net loss from continuing operations of $5.2 million, or $0.46 per share during the same period last year.

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