US: Kenneth Cole Q1 losses narrow
- Q1 net losses narrowed to US$1.8m
- Revenue slipped 0.6% to $116.8m
- Gross profit up 140 basis points to 36.9%
Kenneth Cole Productions saw first-quarter net losses narrow as lower costs helped offset flat sales.
The footwear company said yesterday (3 May) that net losses narrowed to US$1.8m over the quarter ended 31 March, from a loss of $17.2m in the same period last year. Revenue slipped 0.6% to $116.8m from $117.5m.
Wholesale revenue rose 3% to $76.7m, while consumer direct revenue fell 6.7% to $31m, which the firm attributed to fewer stores and a comparable store sales decline of 2%.
Gross profit improved by 140 basis points to 36.9%, primarily due to a reduction in clearance activity against the prior year. Operating costs fell 20.1% to $46.9m.
The following is a round-up of apparel and footwear news from the world's local media. just-style has not checked these stories so cannot guarantee their accuracy....
Kenneth Cole has completed the acquisition of his eponymous clothing and footwear brand Kenneth Cole Productions. ...
Marcraft Apparel Group has signed a licensing agreement with Lanier Clothes to produce topcoats and rainwear under the Kenneth Cole New York, Kenneth Cole Reaction and Unlisted by Kenneth Cole Product...
UK-based fashion footwear and accessories retailer Dune Group is partnering with Reliance Brands on an exclusive long-term franchise agreement in India....
- Wearable technology a key trend for 2015
- Retailers react to India forced labour allegations
- Moisture management fabrics enter a new era
- Mexico urges fast-fashion brands to source locally
- COMMENT: Innovation is the name of the game
- Hazardous chemicals found in children's products
- VF rolls out plan to eliminate harmful chemicals
- October "a scary month" for US apparel retailers
- Raising the minimum wage may reduce employment
- UK Primark supplier goes into administration