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Tefron Swings Profitable As Sales Jump Sharply

(Filed Under Financial and General Interest News). Tefron Ltd. reversed course in its second quarter, reporting income of $1.275 million, compared to a loss of $1.037 million in the same quarter last year.

Sales also rose dramatically in the quarter ended June 30, 2016, to $38.9 million compared to $22.8 million in 2015. For the first six months of its fiscal year, Tefron registered income of $91,000 on sales of $65.5 million compared to a loss of $1.299 million on sales of just $47.4 million in the first half last year.

Tefron’s return to profitability so far this year comes after a loss of $3.9 million on sales of $93.1 million in 2015; a loss of $800,000 in 2014 on sales of $93.9 million in 2014; and a loss of $3.4 million on sales of $82.9 million in 2013.

Tefron produces, according to information on its website, intimate apparel for women and underwear for men, as well as shapewear for women, and activewear and casual attire for men and woman. In images on its site, men’s underwear with the Calvin Klein logo can be seen as well as a bra with the Victoria’s Secret logo.

Tefron claims “a global reputation for technological superiority, as well as strategic partnerships and customer relationships with market leaders in fashion, athletics and wearable tech.” A company press release from 2010 claimed customers then included “Hanes Brands Industries, Reebok, Patagonia, Lululemon Athletica, GAP, Calvin Klein, Wal-Mart, Victoria’s Secret.” — NM

more Financial and General Interest News >>

Published 09-27-2016 by Nick Monjo

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