Macaulay's total net revenue for the first quarter reached 19.2 million dollars

Absrtact: June 10, Mecoxlane released the company's first quarter as of March 31, 2014 without the audit results. Total net revenue in the first quarter reached $19.2 million, down 8.5% from $21 million a year earlier, with a net loss of 5.8 million U.S.

June 10 News, Mecoxlane released today the company as of March 31, 2014 The first quarter of the unaudited earnings. Total net revenue in the first quarter amounted to $19.2 million, down 8.5% from $21 million a year earlier, with a net loss of 5.8 million dollars and a net loss of 4.2 million dollars a year earlier, according to earnings reports.

2014 First quarterly results summary:

Revenue：

Macaulay's total net revenue for the first quarter reached $19.2 million trillion, down 8.5% from 21 million dollars a year earlier. Macaulay first quarter total net revenue decline year-on-year, mainly due to the company's E-commerce channel net revenue decline Year-on-year and the company joined the net revenue decline.

Macquarie's first-quarter E-commerce channel net revenue reached $3.2 million, down 43.5% from the 5.7 million dollar a year earlier, down mainly due to continued sharp declines in sales of the company's M18.com website and increased competition from rival clothing brands.

In the first quarter, the net revenue from the call center reached 10.7 million U.S. dollars, a 9.9% increase from 9.7 million dollars a year earlier, mainly due to an increase in orders to call health and maternity products.

Macaulay's first-quarter net revenue from direct stores reached an average of 4.6 million per cent, up 45.9% per cent from 3.1 million trillion dollars a year earlier, mainly due to the increase in sales of each of the direct stores, but also by the decline in the number of outlets and partly offset. The number of direct stores in the first quarter of Macaulay fell to 55 from 65 a year earlier.

Macaulay in the first quarter from the store's net revenue reached 700,000 U.S. dollars, compared to the same period of 2.4 million U.S. dollars slipped 70.3%, the year-on-year decline is mainly due to the average of each franchise drop in the store and the number of franchisees fell year-on-year. The number of stores in the first quarter of the year fell from 263 in the same period to 152.

Costs and expenses:

The cost of the first quarter was $11 million trillion, down 14.6% from $12.9 million a year earlier.

Macaulay's total operating expenses for the first quarter amounted to $12.6 million, an increase of 7.9% from 11.7 million dollars a year earlier, with sales and management spending reaching 11.7 million U.S. dollars, down 16.3 million from a year earlier, and a decline mainly due to lower employee and labour costs.

Profit (loss):

Macaulay's first-quarter gross profit amounted to $8.2 million, up 1.1% from the 8.1 million dollar a year earlier;

Macaulay's first-quarter operating losses amounted to $4.5 million trillion, operating at $3.6 million a year earlier.

Macaulay's net loss in the first quarter amounted to $5.8 million, a net loss of $4.2 million a year earlier, and not according to US GAAP, the first-quarter net loss of Macaulay should reach $5 million, compared with a net loss of $3.2 million from the US General accounting standards for the same period a year earlier. The basic and diluted losses for the first quarter of the U.S. depository stock were 0.45 US dollars.

As of March 31, 2014, Macaulay held a total of $7.1 million in cash and cash equivalents, up to December 31, 2013 of USD 15.7 million, and held a short-term investment of $1.6 million, up to December 31, 2013.