Hampshire Group Ltd.’s second-quarter loss more than doubled on flat sales.
Despite the decline in its bottom line, shares of Hampshire rose $1.30, or 16.9 percent, to close at $9 on Wednesday. It was the second consecutive day of double-digit percentage increases for the stock after Monday’s disclosure that Hampshire and former chief executive officer Ludwig Kuttner had settled a dispute resulting from an audit committee investigation into Kuttner’s business expenses and alleged mismanagement and tax evasion. He dropped a wrongful dismissal lawsuit and Hampshire withdrew its lawsuit against Kuttner.
For the three months ended June 28, the Anderson, S.C.-based sweater and sportswear marketer reported a second-quarter net loss of $5 million, or 64 cents a diluted share, versus a loss of $2.2 million, or 29 cents, in the same period last year. Excluding results from the Shane Hunter subsidiary, which has been divested, the loss from continuing operations was $3.1 million, or 40 cents, against a loss of $1.4 million, or 11 cents.
Sales rose 0.6 percent to $32.9 million from $32.7 million as higher average selling prices offset a decline in unit volume.
For the six-month period, the company reported a net loss of $8.8 million, or $1.12 a share, a 46.6 percent increase from a loss of $6 million, or 77 cents a diluted share, for the first half of 2007.
Sales for the six-month period fell 0.8 percent to $72.6 million from $73.2 million.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
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@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
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