Respect Your Universe Inc (C:RYU)
Shares Issued 48,322,128
Last Close 11/16/2012 $0.65
Monday November 19 2012 - News Release
Mr. David Campisi reports
RYU THIRD QUARTER REVENUES DOUBLE
Respect Your Universe Inc. has released its financial results for the third quarter ended Sept. 30, 2012. Net revenues increased by 127 per cent to $244,000 (U.S.) compared with $108,000 (U.S.) in the second quarter of 2012.
The third quarter revenue increase was driven by a significant increase in the U.S., Canadian and United Kingdom wholesale accounts, as well as accelerating growth from the Web store.
"I am proud of what the RYU team has accomplished. Our sales, marketing and product teams are aligned, and the momentum continues as we open new wholesale accounts. We are pleased with the retail sell-through at this early stage of our start-up business," said David Campisi, Respect Your Universe's chairman and chief executive officer.
In addition, on Oct. 25, 2012, Respect Your Universe opened its first retail store located at the Shoppes at the Palazzo in Las Vegas. "Early results from the Las Vegas RYU store have exceeded our expectations," continued Mr. Campisi. "This store serves as an extension of our brand offering, a premium shopping experience in a retail environment that reflects the quality, performance, sustainability, craftsmanship and design of our apparel and accessories."
© 2012 Canjex Publishing Ltd.