Maternity apparel retailer Mothers Work Inc. reported Tuesday that it quadrupled its profits for the third quarter, but forecast a fourth-quarter loss aggravated by restructuring costs and a new $7 million stock repurchasing plan.
Effective through July 2010, the repurchase program will give the company “excellent flexibility” at a time when it is also trying to reduce its debt, according to chief operating officer Edward M. Krell. In June, the company prepaid $8 million of its senior secured term loan, bringing to $13 million the amount prepaid since March.
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)