VANCOUVER, Nov. 30, 2016
VANCOUVER, Nov. 30, 2016 /PRNewswire/ - 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.
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In Canadian dollars (unaudited)
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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
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, CEO
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.