Sport-Haley, Inc. reported net sales of fashion apparel in its second quarter ended December 31 were $3.2 million, a decrease of 26%, from net fashion apparel sales of $4.4 million for the comparable three-month period in the prior fiscal year.
As a percentage of net sales, gross profit of fashion apparel dropped 900 basis points to 32% for the second quarter compared to 41% for the same quarter in the prior fiscal year, which led to a quarterly net loss of $142,000. The year-ago quarter saw a net loss of $23,000 for the company. Basic and diluted losses per share were 6 cents for the second quarter.
