Citing continuing across-the-board sales growth and steady improvement in gross margin, Joe’s Jeans Inc. reported Tuesday that its second-quarter profits almost quintupled.
For the three months ended May 31, the Los Angeles-based firm best known for its high-end jeans registered net income of $2 million, or 3 cents a diluted share, up 378 percent from the $422,000, or 1 cent, reported during the comparable 2007 period. Net sales increased 18 percent to $18 million from $15.2 million in last year’s quarter.
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