NEW YORK — The weight of acquisition and marketing charges pressured Innovo Group Inc. into the red for the second consecutive quarter.
In the third quarter ended Aug. 30, the Los Angeles-based apparel and accessories marketer reported a net loss of $2.3 million, or 14 cents a diluted share. By comparison, the company reported net earnings of $820,000, or 5 cents, in the same period last year.
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?"