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The Hour Glass posts 8% decline in 3Q earnings to $13.4 mil on higher costs

Michelle Zhu
Michelle Zhu2/9/2017 06:21 PM GMT+08  • 1 min read
The Hour Glass posts 8% decline in 3Q earnings to $13.4 mil on higher costs
SINGAPORE (Feb 9): Luxury watch retailer The Hour Glass saw its earnings fall by 8% to $13.4 million for the third quarter ended 31 Dec, mainly due to higher costs.
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SINGAPORE (Feb 9): Luxury watch retailer The Hour Glass saw its earnings fall by 8% to $13.4 million for the third quarter ended 31 Dec, mainly due to higher costs.

Revenue for the quarter grew 5% to $196 million from $186.4 million a year ago.

This was more than offset by higher total costs and expenses, which increased by 6% in 3Q17 to $180.5 million from $170.9 million in 3Q16 – largely attributable to a 9% increase in cost of goods sold for the current quarter to $152.2 million.

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