VANCOUVER, Nov. 30, 2016 /CNW/ - RYU Apparel Inc. (TSX
VENTURE: RYU & Frankfurt Stock Exchange: RYA), creator of
"tailored innovation for the urban athlete", is pleased to report
unaudited revenue for its third quarter ended September 30, 2016. This is the Company's fourth
consecutive quarter of increasing revenue since relaunching RYU in
November 2015.
|
|
|
|
In Canadian dollars
(unaudited)
|
3 months
ended
September
30, 2016
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9 months
ended
September
30, 2016
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|
|
|
|
Revenue
|
$
|
362,225
|
$
|
967,289
|
Third quarter revenue of $362,225
was 7% higher than second quarter revenue of $339,307, 36% higher than first quarter revenue
of $265,757, and 42% higher than
fourth quarter 2015 revenue of $254,664.
"Since relaunching RYU in the third quarter of 2015, we have had
cumulative revenue of $1,221,953 and
we are extremely pleased with our year-to-date revenue performance.
We anticipate stronger sales moving forward as we proceed towards
opening three additional store locations in Vancouver and one store location in
Toronto by mid-2017," said
Marcello Leone, CEO for RYU.
Full details of the Company's financial performance can be
obtained by viewing the interim financial statements and
corresponding MD&A available on SEDAR.
For regular updates on RYU Apparel visit: http://ryu.com
About RYU
RYU Apparel Inc. is tailored innovation for
the urban athlete. Designed without compromise, RYU engineers
apparel and accessories for the fitness and training of the
multi-discipline athlete. Created for athletes by athletes, RYU
exists to facilitate human performance. For more information,
visit: http://ryu.com
On Behalf of the Board
RYU APPAREL INC.
"Marcello
Leone"
Marcello Leone,
CEO
Tel: 604-235-2880
This news release contains forward-looking information that
involve various risks and uncertainties regarding future events.
Such forward-looking information can include without limitation
statements based on current expectations involving a number of
risks and uncertainties and are not guarantees of future
performance of the Company, such as statements that the Company
anticipates stronger sales in the future and the intention to open
three additional stores by mid-2017. There are numerous risks and
uncertainties that could cause actual results and the Company's
plans and objectives to differ materially from those expressed in
the forward-looking information, including the ability of the
company to finance operations, the ability of the management team
to execute on its business plan, risks in the apparel industry in
general, and delays and risks associated with renovating and
opening new store locations. Actual results and future events could
differ materially from those anticipated in such information. These
and all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Except as required by law, the Company does not intend to update
these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE RYU Apparel Inc.