NEW YORK — Weak markets and a weak dollar collided to send Novel Denim Holdings Ltd. to a loss and a double-digit sales decline in its third quarter.
For the three months ended Dec. 31, the Hong Kong-based firm lost $3 million, or 34 cents a diluted share, against net income of $4.1 million, or 45 cents, in the year-ago quarter. The loss before exchange gains and losses was $800,000 compared with $2.2 million last year. Sales fell by 14.2 percent to $37.9 million from $44.2 million.
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)