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.
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?"