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....
- Can Gap maintain its momentum minus Larsson?
- Private label sourcing faces range of pressures
- What clothing could the TPP X-basket contain?
- Patagonia's CSR commitments re-shaping the sector
- The Flanarant: TPP – now the real fight starts
- Update: Negotiators agree landmark TPP trade deal
- New CEO may focus on Ralph Lauren supply chain
- H&M falling behind on Bangladesh factory safety?
- Nike collaborates on low-impact textile challenge
- Unions agree proposed Cambodia minimum wage
- Wearable technology: The future market potential for smart garments and e-textiles
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of lingerie - forecasts to 2020