NEW YORK — St. John Knits International Inc. posted a double-digit first-quarter sales rise, but net income fell under the weight of thinner wholesale margins.
For the 13 weeks ended Feb. 2, the Irvine, Calif.-based better sportswear marketer reported net income of $5 million, 14.7 percent below the prior-year level of $5.9 million. Because the company paid $1.3 million in preferred stock dividends in the year-ago quarter and none in the most recent period, income allocated to common stockholders rose 9.5 million, from $4.6 million.
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)