Net sales for the second quarter totaled $32.4 million compared to $16.3 million during the same period last year. $17.7 million in additional sales were attributed directly to Hudson, which Differential Brands merged earlier this year with its Robert Graham brand.
The merger of Hudson, including certain costs to restructure, and the acquisition of Swims, a Scandinavian lifestyle brand, resulted in a net loss of $3.6 million and loss per share (basic and diluted) of 29 cents for the second quarter.
Wholesale performed strongly, with Differential reporting net sales of $22.8 million compared to $8.5 million in 2015. This was again primarily due to the addition of $16.8 million in net sales from Hudson, although this was offset by a decrease in wholesale sales from Robert Graham during the same period.
“We are very pleased that we continued to improve our product offerings across our portfolio of brands during the second quarter, as we worked to implement our new branded platform approach,” said Differential Brands CEO Michael Buckley. “In our wholesale segment, we were pleased with the performance of Hudson, which benefited from operational efficiencies put into place following the closing of the RG Merger.”