For the quarter ended on the 2nd of July, net sales for Phoenix Footwear increased by 184 000 US dollars (4.5%) and have reached 4.24 million US dollars. Net sales for the quarter included growth in the company’s e-commerce, independent, and internet based channels of distribution.

In the opposite direction of the quarter net sales, for the first six months of fiscal 2016 a decrease of 9.2% was registered. Net sales in the first semester totaled 9.7 million US dollars compared to 10.7 million US dollars in the first six months of fiscal 2015.

Contributing to the lower net sales for the first six months was a decrease in sales to a large national retailer and a decrease in the company’s catalog channel of distribution, that was partly offset by increases in e-commerce sales.

Contributing to the higher gross margin for the three and first six months of fiscal 2016 were the reduction in the inventory obsolescence reserve matched against the clearance of phased-out and discontinued goods together with the reduced air shipment of goods compared to the three and first six months of fiscal 2015.

Phoenix Footwear reported a net operating loss of 539 000 US dollars or 0.04 US dollars per share for the second quarter, compared to a net operating loss from continuing operations of 651 000 US dollars or 0.08 US dollars per share for the same period of the prior year.

For the first six months of fiscal 2016, the company reported a net operating loss from continuing operations of 737 000 US dollars or 0.06 per share US dollars compared to a net operating loss from continuing operations of 690 000 US dollars  or 0.08 US dollars per share for the first six months of fiscal 2015.

California-based Phoenix Footwear specializes in quality comfort women’s and men’s footwear with a design focus on fitting features. Phoenix Footwear designs, develops, markets and sells footwear in a wide range of sizes and widths under the brands Trotters and SoftWalk. These brands are primarily sold through department stores, leading specialty and independent retail stores, mail order catalogues and internet retailers and are carried by approximately 839 customers in over 1 572 retail locations throughout the US.