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Profits Down in Second Quarter

Ian P. Murphy |

CHICAGO — Profits for drycleaners nationwide fell at about the same pace as piececounts in the second quarter of 2008, with AmericanDrycleaner.com’s StatShot panel reporting an average 22.6% decrease in net revenues. Piececounts decreased 22.9% during the same period.
Operators in the West again led declines, with profits falling more than a third (37.3%). The region was hit early and hit hard by the slowdown in the economy, with operators reporting double-digit decreases in sales, piececounts and profits.
Down 14.2% nationwide, sales didn’t post as steep a decline as profits in the second quarter, however. Such numbers may indicate that reliable customers continue to patronize their drycleaners, but fewer high-margin items are getting dropped off with everyday orders.
The StatShot panel is made up of industry operators who contribute financial information anonymously for use at the website. To ensure accuracy, AmericanDrycleaner.com needs your help with future StatShot surveys. E-mail drycleaner@crain.com today to join the survey panel!

About the author

Ian P. Murphy

American Drycleaner

Ian P. Murphy is a freelance writer based in Chicago, and was the editor of American Drycleaner from 1999 to 2011.

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