For the quarter ended on the 1st of October, Phoenix Footwear net sales decreased by 1.0%, totaling 5.77 million US dollars (compares to 5.82 million US dollars for the third quarter of fiscal 2015).

Net sales for the first nine months of fiscal 2016 decreased by 6.3%, reaching 15.5 million US dollars, compared to 16.6 million US dollars for the first nine months of fiscal 2015. The decrease in net sales for the period was primarily driven by lower sales in the catalog, online and national retail channels that were partly offset by increases in the company’s e-commerce and other internet based accounts.

In the third quarter, the company reported a break-even result from continuing operations compared to a net operating loss from continuing operations of 45 000 US dollars in the same period in 2015.

For the first nine months of fiscal 2016, Phoenix Footwear reported a net loss from continuing operations of 737 000 US dollars, compared to net loss from continuing operations of 735 000 in the first nine months of the previous year.