By  on August 17, 2009

Swank Inc. recorded a second-quarter profit, versus a year-ago loss, on higher sales and reduced selling and administrative expenses.

In the three months ended June 30, New York-based Swank registered net income of $401,000, or 7 cents a diluted share, compared with a net loss of $128,000, or 2 cents, in the year-ago quarter. Sales advanced 2.9 percent to $26.5 million from $25.8 million as strength in belts and personal leather accessories and fewer markdowns, as well as cooperative advertising expenses, offset weakness in its luxury business, some of it the result of large initial orders shipped during the first half of 2008, when Swank entered the luxury sector.

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