– BLUE HOLDINGS UPDATE: Blue Holdings Inc., which produces denim and sportswear sold under the brands Antik Denim, Yanuk, Taverniti So Jeans and Faith, said it expects to report an estimated 2007 pretax net loss of $5.6 million on revenue of about $33.6 million. In the previous year, the Commerce, Calif.-based company posted a pretax net loss of $5.4 million on revenue of $49 million. Continuing efforts to cut costs, Blue Holdings said it anticipates a profit in the first quarter of 2008 on revenue of $8 million to $8.5 million. The company projects 2008 revenue of $29 million to $31 million with pretax income of $1 million to $1.5 million. In addition, the company said chief financial officer Larry Jacobs will leave on April 15 as it adds senior executives to its sales and merchandising team. Burt Damsky, who was vice president at Southpole’s Lot 29 division, joined as president of sales, replacing Scott Drake who resigned in September. Alicia Gabaldon, the former director of merchandising at Rock & Republic and Ralph Lauren, was hired as vice president of merchandising, a new position.
This story first appeared in the April 9, 2008 issue of WWD. Subscribe Today.