US: K-Swiss widens Q1 loss amid domestic downturn
Footwear firm K-Swiss has posted a widened first quarter loss after its sales were dragged down domestically.
The company said that net loss for the quarter was US$4.7m, compared with a net loss of $1m in the prior-year period.
Total worldwide revenues decreased 11.0% to $65.9m in the quarter. Domestic revenues decreased 21.2% to $23.94m while international revenues decreased 4.0% to $41.9m for the same period.
Worldwide futures orders with start ship dates from April through September 2010 decreased 1.6% to $72,529,000 at 31 March, K-Swiss said.
Domestic futures orders increased 2.7% to $29.1m though, while international futures orders decreased 4.3% to $43.4m.
For 2010, the company expects full year consolidated revenues to be 5% to 10% less than 2009.
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