Higher charges and lower revenues pulled Kenneth Cole Productions Inc. to a wider fourth-quarter loss, the company said late Tuesday.
In the three months ended Dec. 31, the New York-based company logged a net loss of $52 million, or $2.88 a diluted share, versus a loss of$12 million, or 67 cents a diluted share, in the year-ago quarter. Excluding one-time charges for severance, asset impairment and an adjustment in the firm’s deferred tax asset balance, the company earned $3.8 million, or 21 cents, matching Yahoo Finance’s consensus analyst estimate, against a loss of $4.8 million, or 27 cents, in the 2008 period.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"