Bernard Chaus Inc. suffered deeper losses on lower sales during the fourth quarter and fiscal year as growth in its Kenneth Cole licensed business failed to compensate for declines in the Cynthia Steffe and private label product lines.
According to the firm’s annual report, filed this week with the Securities and Exchange Commission, the net loss grew to $6 million, or 16 cents a diluted share, in the fourth quarter ended June 30, from a loss of $3.2 million, or 9 cents, in the year-ago quarter. The 2009 loss includes a $2.3 million pretax charge for goodwill impairment. Sales tumbled 22 percent to $19 million from $24.4 million in the prior year. Gross margin fell to 19.5 percent of sales from 25.3 percent 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?"