SUNRISE, Fla. -- Jan Bell Marketing Inc., distributor of fine jewelry to the wholesale club industry, widened its third-quarter loss to $4.5 million from $2.9 million a year-ago.
Sales rose 61 percent to $68.6 million from $42.6 million.
In the nine months ended Oct. 30, Jan Bell increased its loss to $15.4 million from $12.9 million in the year-ago period. Sales climbed 38.9 percent to $191.7 million from $138 million.
The firm said that because of the losses, it was not in compliance with the earnings covenant in its senior note agreement, and it was entering into a forbearance agreement with the noteholders and also contemplating restructuring discussions to be completed before Feb. 28.
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)