Hampshire Group Ltd. reduced its net loss in the fourth quarter despite a decline in sales at its Rio Garment unit and the winding down of its Geoffrey Beene and Joe Joseph Abboud licensed businesses.
In the three months ended Dec. 31, the net loss was pared to $1.5 million, or 20 cents a diluted share, from a loss of $6.3 million, or 94 cents, in the prior-year period. The net loss for continuing operations fell to $1.6 million from a loss of $7.2 million. The 2011 figures included a $6.3 million pretax loss on a lease obligation stemming from a dispute with the landlord of its New York offices.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)