Reports Q3 revenue $43M vs. $36.8M last year. "Our fiscal third quarter performance demonstrated the company’s ability to navigate through continued challenging market conditions in the broad retail sector," said Sam Choi, Jerash’s chairman and CEO. "As previously communicated, fiscal 2023 is a transitional and opportunistic year for Jerash, as we continue our initiative to diversify our customer base and product mix. Our plans to form a joint venture with Busana Apparel Group are progressing well. We anticipate launching the venture early in our new fiscal year, giving us additional opportunities to serve Busana’s global branded customers that have expressed interest in shifting their production from Southeast Asia to Jordan. We also are successfully beginning to ramp up production on orders from new customers, including Timberland and Skechers. Test runs for our first European-based, high-end apparel brand have been well received, with initial shipments to begin soon,."
Published first on TheFly
