NEW YORK — Robust sales helped Kenneth Cole Productions raise its bottom line 15.8 percent in the third quarter, despite a charge taken on its Rockefeller Plaza store.
For the three months ended Sept. 30, the footwear, apparel and accessories marketer reported net income swelled to $6.8 million, or 33 cents. That compares with last year’s profits of $5.9 million, or 29 cents. A $4.4 million pretax charge for the write-down of the leasehold improvements at the Rockefeller Center flagship store subtracted 14 cents from earnings per share, while an audit of certain licensees resulted in a 3-cent gain. Without these items, EPS would have totaled 44 cents, 4 cents higher than Wall Street estimates.
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)