MILAN — Fila managed to narrow its second-quarter operating loss by cutting costs, but the bottom line still sank deeper into the red because of a write-off on its struggling British unit.
Concurrently, Fila asked shareholders to approve special measures designed to recapitalize the company, which has endured losses in the last four years. Among these moves, contingent upon shareholder approval, would be dipping into company reserves, executing a capital increase and enacting a 1-for-2 reverse stock split. A special meeting to vote on these proposals will be held Sept. 23.
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)