By  on May 25, 2009

BERLIN – Escada shares slipped in trading Monday in reaction to a widening loss at the struggling German fashion house.

Late Friday, Escada said the soon-to-be completed sale of its Primera business - comprised of Apriori, Biba, Cavita and Laurèl - would require another writedown, triggering a book loss exceeding over half the company’s capital stock.

In preliminary figures for the six months ended April 30, Escada reported an after-tax loss of 17.8 million euros or $23.3 million, compared to 6 million euros or $9 million for the period a year earlier.

However, after the writedown for Primera and discontinued operations, the after-tax loss for the period widened to 91.7 million euros or $120.2 million, compared to 8 million euros of $12.0 million a year ago. Dollar figures are converted from the euro at average exchange rates for the respective periods.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus