USA: Candie's Triples Q1 Profit On Sales Surge
Leading designer and marketer of young women's shoes and apparel, Candie's Inc, on Wednesday revealed it almost tripled its first quarter net profit to $1.1 million on the back of a 31 per cent jump in sales to $2.1m. The company said net revenues for 13 weeks ended April 30 increased 7.4 per cent to $25.6m from $23.9m in the year-ago quarter, while diluted earnings per share for the first quarter rose to five cents versus two cents in 2001.
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