NGC Customers Rank Among Most Profitable Public Apparel Firms in 2018August 10, 2018
Results are in for Apparel Magazine’s Top 50 report, and eight NGC customers including Carter’s, VF Corp., Canada Goose, UniFirst, Rocky Brands, Foot Locker and Delta Apparel Inc. are on this year’s list.
The report ranks the most profitable public apparel firms with at least $100 million in sales that trade on the U.S. stock exchange. The report highlighted several innovative business initiatives from NGC customers. For example, Delta Apparel’s lifestyle brand Salt Life introduced its own craft beer line in Florida, and VF Brands, which hosts a diverse portfolio of global companies, is recognized for its continuing expansion through the acquisition of Williamson-Dickie, Icebreaker and Latra.
Based on the analysis behind the list, total revenues and net incomes increased this year when compared to the previous year. Additionally, all 50 companies on this year’s list proved to be profitable, which is not always the case.
Profitability is Dependent on Change
While store-downsizings and bankruptcies continue to persist throughout the industry, the report debunked the myth of the retail apocalypse. However, the ecommerce surge, normalization of online shopping via mobile devices and heightened expectations regarding personalization and seamless customer experiences have changed the way consumers shop, and retailers must continue to innovate to succeed and be profitable.
Technology has revolutionized retail, making it easier for customers to order products they want with a few clicks and minimal effort. And with the continued growth of e-commerce, every aspect of retail is affected. Retailers are focused on a digital-first strategy, stores become less about a place of purchase and more about brand experience and artificial intelligence transforms into a standard part of the business rather than an innovative idea to try.
Digital Supply Chains Help Companies Stay Profitable
Supply chains play a critical role, here, too. Digital supply chains that enable cost reduction and lead time optimization are vital to helping fashion brands and retailers meet consumer expectations in order to increase sales and profitability.
The firms ranked in this report understand the weight of the industry’s changing landscape and are finding ways to adapt to the changing retail landscape. NGC is proud to be well represented among this year’s Top 50 apparel companies, and we congratulate all the winners.
For a more detailed look at this year’s 50 most profitable retailers, read the full report.