NEW YORK — Mossimo Inc. hit the bull’s-eye in the second quarter with profits that more than doubled on strong revenue gains.
For the three months ended June 30, the Santa Monica, Calif.-based designer firm, whose line is carried exclusively at Target discount stores, reported net income skyrocketed 142.3 percent to $3.7 million, or 23 cents a diluted share. That compares with last year’s earnings of $1.5 million, or 10 cents. Earnings per share eclipsed Wall Street forecasts by 4 cents.
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?"