FJ Benjamin

[winston]

When was the last time someone you know bought Gap, Banana Republic and Guess ?

[helios]

err ... maybe no ...

bell n ross BR1, yes! (buy the imitation in thailand lor ...)

[iam802]

the word is 'replica' not imitation.

at least that is what my spam box says.

[winston]

FJB's Q1 '09 net profit tumbles 73% By ANGELA TAN

High end retailer F J Benjamin Holdings Ltd on Tuesday reported net profit for the fiscal first quarter ended September 30, 2008 tumbled 73 per cent to S$1.1 million.

The lower profitability is mainly due to unrealised non-cash foreign exchange losses of S$1.4 million, compared with a gain of S$0.8 million in 1Q08.

This translation loss relates mainly to the inventory carrying value and arose from the difference between the exchange rates used in recording the inventories and the closing exchange rate at period end.

Excluding foreign exchange losses / gain, net profit would have been S$2.7 million compared to S$3.2 million in previous corresponding quarter.

Revenue was up 3 per cent at S$84 million.

Gearing has improved from 0.22 times to 0.12 times.

The group said it is employing measures to drive sales, and seize opportunities to grow its market share. It will continue to take stringent measures to manage its inventory, reduce costs, and improve its cash flow.

[millionairemind]

February 12, 2009, 6.12 pm (Singapore time)

FJ Benjamin sees Q2 profit dive 93%
By UMA SHANKARI

FJ Benjamin said on Thursday that net profit for the second quarter ended December 31, 2008 fell 93 per cent to $611,000 from $8.4 million a year ago.

Earnings per share fell from 1.47 cents to 0.11 cents.

Revenue for the three months fell 10 per cent to $85.1 million, from $94.8 million in the previous corresponding period. Revenue was hit by 'the global economic slowdown', the company said.

Group turnover from the fashion business was fell 12 per cent to $55.3 million, while the timepiece business fell by 8 per cent to $29.0 million with the decline coming mainly from the Malaysian and Taiwan markets.

Profit from operations fell 53 per cent from $7.5 million to $3.5 million in Q2 2009 and this lower profitability was further compounded by unrealised non-cash foreign exchange losses of $2.3 million, compared with a gain of $1.7 million in Q2 2008. This loss arose from translation of trade payables and related companies balances denominated in foreign currencies to the closing exchange rate at balance sheet date.

Looking ahead, FJ Benjamin said that the uncertain global economic climate will further affect global consumption and investment decisions resulting in weakening demand in the months ahead.

'The group has been taking steps to mitigate the impact of the downturn by cutting costs where possible. In view of the challenges ahead, management will continue its efforts to drive revenue, keep costs lean and will work with landlords to reduce rental and other overheads,' FJ Benjamin said.

A newly appointed leading retailer in the Philippines will be launching in-house brand Raoul in Manila in April 2009, with four stores planned in Manila 2011. This will value add to the growth of the brand in the region. The group also continues to explore opportunities in New York as part of its growth strategy, it said.

FJ Benjamin shares lost 0.5 cents to close at 13.5 cents today.

[millionairemind]

Singapore
May 11, 2009, 7.01 pm (Singapore time)

FJ Benjamin swings into the red
By JAMIE LEE

Retailer FJ Benjamin swang into the red due to a foreign exchange loss and as the consumers' spending dollar was stretched.

The retailer - which distributes brands such as Banana Republic, Gap and Raoul - posted a net loss of $1.86 million for the third quarter ended 31 March, compared with a $4.36 million net profit a year ago.

This was due to an unrealised forex loss of $1.67 million, compared with a gain of $2.26 million in the third quarter.

Stripping out the forex loss, the company would have made a post-tax loss of $191,000.

Turnover dropped 21 per cent to $69.1 million compared with $87 million a year ago.

The fashion business - which makes up about 70 per cent of total sales - fell 19 per cent to $49.2 million.

Sales from the timepiece business - including brands such as Girard-Perregaux, Marc Ecko and Rado - fell by 24 per cent to $19.4 million, with major decreases from South East Asia and Taiwan markets, the company said.

'Retail sales in February were especially hard hit, with the drop of 33 per cent in retail sales, as Chinese New Year in January this year was too close to the year-end festive period for sustained holiday spending,' the company said in its financial statement.

'The Great Malaysian Sale did not do as well as last year,' it added.

No dividend was declared for the period.

[millionairemind]

Published August 25, 2009

FJ Benjamin rings up full-year loss of $2.66m

By NISHA RAMCHANDANI

RETAILER F J Benjamin Holdings posted a net loss of $2.66 million for the full year ended June 30, 2009, against a net profit of $14.8 million for FY08.

The loss was due to an exceptional charge of $3.1 million and a non-cash foreign exchange loss of $3.7 million, as well as to the poor economy and weak consumer sentiment.

Group turnover shrank 12 per cent year-on-year to $299.9 million, dragged down by a 21 per cent drop in turnover in H209.

Turnover from its fashion business segment fell 10 per cent to $203.4 million, while its timepiece business was down 17 per cent to $94.3 million on the back of weaker consumer spending in South-east Asia and Taiwan.

Operating profit was down 65 per cent to $5.5 million, though group operating expenses were also lower by 9 per cent at $117.2 million as a result of cost cutting measures such as lower staff costs, which dropped 11 per cent to $36.6 million.

A dividend of 0.5 cent per share has been recommended for FY09, payable on Nov 23.

'With signs of recovery in the global financial markets and in some economies in the region, we see improving consumer sentiment.

'We will continue to invest in our brands and grow our market share, while maintaining vigilance on cost and inventory control,' said CEO Nash Benjamin.

The group will open a Raoul showroom in New York come end September to present its collection to buyers from department and specialty stores in a bid to expand its distribution channel in the US.

Closer to home, F J Benjamin will be opening three new stores - for its Guess, Raoul and La Senza brands - at integrated resort Marina Bay Sands when it opens early next year.

The retailer is also considering opening stores for several other brands within its portfolio, Marina Bay Sands said in an announcement yesterday.

Most recently, F J Benjamin opened a store in Ion Orchard and another in Orchard Central.

Its shares gained half a cent in trading yesterday to close at 24 cents.

[Aspellian]

TOL on retailers:

FJ Benjamin - macham monopolise mid-tier fashion and sports brands..hahah!!

remembered reading that its not retailers that will earn big $ by opening more outlets, its the landlord of new malls who will be the one laughing to the bank. bulk of retailers' cost of sales is actually rental... major retailers must keep on expanding wherever there are new malls - they need to be in consumers' eyeballs. but the market is only so big (future probably bigger becos of the gamblers)... so do you think retailers' revenue or profit per square feet will increase with more and more shops? i doubt it....

last few years, Courts have been restructuring their stores and closing down quite a few of the non-profitable outlets... haven check their financials but i think they are now in better shape...

[millionairemind]

November 4, 2009, 6.25 pm (Singapore time)

FJ Benjamin's Q1 net profit falls 58%

By NISHA RAMCHANDANI

RETAILER F J Benjamin Holdings saw net profit fall 58 per cent year on year to $459,000 for the first quarter ended 30 September 2009, as a result of weak consumer sentiment in key markets in Asia.

Group turnover dropped by 20 per cent to $67.6 million, dragged down by the decline in its luxury timepiece segment.

Earnings per share were 0.08 in 1Q10, versus 0.19 in 1Q09.

Profit from operations plummeted 88 per cent to $0.4 million. Group turnover from the fashion business was down 9 per cent to $48.3 million, while the timepiece business was 38 per cent lower at $19.0 million.

In an effort to contain costs, the group cut staff costs by 21 per cent to $8 million and trimmed other operating expenses by 19 per cent to $5.3 million. As such, group operating expenses decreased by 13 per cent to $27.8 million from $31.8 million.

'Consumer sentiment has improved gradually as a result of positive macroeconomic data in key markets in the region, and improving tourist arrival numbers,' the group said in a statement on the Singapore Exchange (SGX) on Wednesday.

It also said that it remains 'cautiously optimistic' given the sound fundamentals in Asia and will continue to grow market share, while keeping an eye on costs.

[Aspellian]

how much staff costs and other opex can they cut?

didnt cut opex?? - cos landlord refused to reduce rental! Why should landlord care?

Unless revenue picked up, fixed rental expenses will be a killer.