NEW YORK — The discontinuation of a business segment combined with a calendar shift to push Cygne Designs Inc.’s third-quarter results into the red.
For the three months ended Nov. 2, the New York-based private label apparel manufacturer recorded a net loss of $206,000, or 2 cents a diluted share. That compares with last year when the company earned profits of $13,000, or zero cents. In a statement, Cygne said the loss stemmed mostly from a change in the timing of shipments in the year-over-year quarters.
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?"