US: Cygne Designs FY losses soar to $63.9m
Full year losses at women's wear maker Cygne Designs Inc have soared to $63.9m after the company lost two key customers and saw lower demand for its branded jeans and non-denim private label products.
This compares with a net loss of $158,000 posted by the company last year.
Sales for the year ended 31 January fell by 19.4% to $95.7m from $118.8m, with sales of branded jeans down by $21.5m.
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New York based women's wear maker Cygne Designs Inc has swung to a second quarter loss of $16.62m after it lost its two major customers....
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