Swank Inc.’s fourth-quarter profits came up against a year-ago benefit and wound up being cut in half, but the men’s accessories firm registered improvements in sales, gross margin and its cash and debt positions.
In the three months ended Dec. 31, net income fell 50.9 percent to $1.3 million, or 22 cents a diluted share, from $2.6 million, or 44 cents, in the year-ago quarter. Excluding a $2 million insurance settlement in the 2008 period, profit before income taxes rose 24 percent to $2.8 million from $2.2 million.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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?"