Double-digit increases in same-store sales within its own retail network helped Joe’s Jeans Inc. post double-digit gains in its second-quarter profits and sales and improvement in its gross margin.
In the three months ended May 31, the Los Angeles-based premium jeans firm recorded net income of $1.4 million, or 2 cents a diluted share, 88.8 percent above the year-ago mark of $751,000, or 1 cent a share. Revenues advanced 16 percent to $28.6 million, from $24.7 million in the comparable 2011 period, while gross margin grew to 47.3 percent of sales from 46.6 percent in last year’s quarter.
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)