USA: St John Knits Posts Flat Q1 Profit
Women's clothing designer and marketer St John Knits International Inc on Tuesday posted flat first quarter net income of $7.3 million with revenue down five per cent to $92.3m compared to the year-ago period. The California-based firm said although retail sales increased during the period they failed to offset a fall in wholesale sales. It added sales at full-price stores climbed 15 per cent to $33.3m and same-store sales rose 9.9 per cent.
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