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Escada Sees Net Loss in Quarter

Escada Group???s profits and sales for the second quarter ended April 30 registered significant declines.

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 to 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.