Men’s accessories vendor Swank Inc. reversed a year-ago loss to post a second-quarter profit on a 9.3 percent sales increase highlighted by stronger sales of men’s jewelry and personal leather goods.
Net income for the three months ended June 30 was $1.4 million, or 26 cents a diluted share, versus a net loss of $61,000, or 1 cent, in the year ago quarter. Sales rose to $32.2 million from $29.4 million in the prior-year period, while gross margin advanced to 34.1 percent of sales from 29.4 percent in the 2010 quarter.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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?"