BERLIN — Escada Group's profits and sales for the second quarter ended April 30 registered significant declines. Last week, Escada issued its second profit warning of the year, citing unexpectedly poor performance of its Primera division.
In the second quarter, net losses totaled 4.3 million euros, or $6.6 million, compared with a profit of 2.4 million euros, or $3.7 million, a year earlier. Sales saw a 16.1 percent decline to 153.7 million euros, or $235.7 million. Sales fell 13.5 percent on a currency-adjusted basis.
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?"