SWANK CUTS LOSS IN QUARTER
ATTLEBORO, Mass. — Swank, Inc. reduced its second-quarter loss to $929,000 from a loss of $1.4 million a year ago.
Sales climbed 21.7 percent to $26.6 million from $21.8 million.
In the half ended June 30, the company narrowed its loss to $1.3 million from a loss of $1.6 million before a one-time gain in 1993. After a $477,000 accounting gain, the year-ago loss was reduced to $1.1 million. Sales rose 18.3 percent to $53.1 million from $44.9 million.
Marshall Tulin, president of the jewelry and leather goods maker, said that the company is encouraged by the growth in sales for the quarter and six months. He added that orders for delivery in the second half are up $5 million over last year.
— Fairchild News Service