GERMANY: Escada Sees EUR60m-80m FY Loss
Escada AG, Germany's largest women's fashion and accessories manufacturer, has revealed it anticipates a full year loss of between 60 million and 80 million euros this fiscal year as it restructures its operations. The firm, which recently announced plans to axe 850 jobs amid weak sales, reported a profit of 25.7 million euros last year but has been hit hard by the triple whammy of a soft economy, war in Iraq and the SARS outbreak in Asia.