NEW YORK — Gottschalks Inc. Tuesday said it narrowed its second-quarter loss but expects a loss in the current third quarter.
For the three months ended Aug. 3, the loss was just $2.1 million, or 17 cents a share, compared with last year’s loss in the same quarter of $2.8 million, or 22 cents. The loss excludes the impact, if any, from a change in accounting rules pertaining to goodwill. The company said it was in the early stages of its transitional goodwill impairment test.
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EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
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