Joe’s Jeans Inc. said Wednesday it has been warned by the Nasdaq Stock Market that the company’s shares are in danger of being delisted if they don’t climb to $1 or more.
The stock of the Los Angeles-based premium denim producer fell 2 cents, or 2.2 percent, to 75 cents Wednesday and hasn’t closed above $1 since Oct. 1. Joe’s ran afoul of Nasdaq rules because its shares failed to close at or above $1 for 30 consecutive trading sessions.
The company has until March 15 to regain compliance by closing at $1 or more for 10 consecutive trading days.
If the company is still below the required price by the March deadline, it could be granted an extension of 180 calendar days to move its stock up or make an appeal to Nasdaq.
Joe’s profits for the quarter ended May 31 slipped 17.8 percent to $1.3 million, or 2 cents a diluted share, as sales fell 4.3 percent to $17.2 million.
“Our women’s specialty store business experienced the most difficulty this quarter,” Marc Crossman, president and chief executive officer, said on a conference call discussing the results this summer. “While our Anthropologie business remained quite healthy, the majority of our small, independent boutique purchases were down from the previous year, concurrent with their weak financial performance.”
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)