Kenneth Cole Productions Inc. widened its fourth-quarter loss, partly because of a reduction in gross margin during the period that included the holiday season.
For the three months ended Dec. 31, the loss grew to $12 million, or 67 cents a diluted share, from $3.1 million, or 16 cents, in the year-ago quarter. Stripping out charges for asset impairment, investment write-downs and severance, the loss was 27 cents a share, 5 cents less than analysts’ consensus estimate. Total revenues fell 4.2 percent to $126.6 million from $132.1 million. Included in revenues was a 3.9 percent decline in sales to $114.9 million from $119.6 million and a comparable-store sales decrease of 10.7 percent.
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?"