USA: Candie's Q1 Profit Down, Sales Up 64%
Specialty retailer of young women's footwear and apparel, Candie's Inc, on Thursday reported a fall in first quarter net profit to $726,000 from $1.1 million in the year-ago period but said revenues soared 64.1 per cent. The New York-based company said revenues climbed to $42m from $25.6m last year with operating income up 68 per cent to $1.6m from $953,000 with special charges soaring to $434,000 due to the settlement of an SEC investigation.
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