STOUGHTON, Mass. -- Reebok International Ltd. reported United States apparel sales in the fourth quarter ended Dec. 31 rose 54.2 percent to $30.6 million, from $19.9 million a year earlier.
For the year, domestic apparel sales jumped 62.6 percent to $125.4 million, with 1994's order levels running nearly double the comparable 1993 levels, according to Paul Fireman, chairman and chief executive.
Reebok brand sales outside the United States, including footwear and apparel, increased 10.2 percent to $216.4 million despite the negative effect of currency translation, the company said.
Total company earnings for the quarter were $50.7 million, or 59 cents a share, against operating earnings of $49.8 million, or 54 cents, in the year-ago quarter before a $117.4 million restructuring charge. After the charge the company reported a net loss of $67.7 million for the year-ago quarter.
Hurt by a decline in footwear sales, net sales for the quarter dropped 6.1 percent to $602.6 million from $641.9 million. For the year the company earned $223.4 million, or $2.53, after a $7 million restructuring charge, against $114.8 million, or $1.24.
Sales for the year slipped 3.3 percent, to $2.9 billion from $3 billion.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)