NEW YORK — Higher costs, many related to start-up activities, more than offset surging sales to throw Innovo Group Inc. into the red in the second quarter.
For the three months ended May 31, the Los Angeles-based apparel and accessories marketer reported a net loss of $493,000, or 3 cents a diluted share. By comparison, last year the producer of Joe’s Jeans had net earnings of $207,000, or 1 cent.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"