By  on December 18, 2008

BERLIN — As expected, fiscal 2008 remained a tough year for Escada, with operative earnings falling 71.1 percent and group sales declining 15.1 percent.

Earnings after taxes are still being assessed, but Escada said the clear decline in sales plus restructuring expenses would translate into a net loss exceeding last year’s 27.3 million euros, or $40.9 million. All dollar figures are calculated from the euro at an average exchange rate for the period.

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