NEW YORK — Weaker jewelry sales and higher transportation costs slowed Swank Inc. down in the fourth quarter, though the furnishings company said the new Tumi line will help it diversify its operations.
Fourth-quarter net income fell 65.1 percent to $3.5 million, or 57 cents a share. This compared with $9.9 million, or $1.63, a year earlier, when the firm registered a $5 million onetime tax benefit.
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)