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June 27, 2008
Escada Posts Losses As Primera Division Declines
Escada Group’s profits fell dramatically in the second quarter of the year as the German firm reported a net loss of $6.6 million compared to the profit of $3.7 million it posted a year ago. Sales for the quarter ended April 30 dropped 16% to $236 million.
While the Escada brand saw an earnings increase of 6%, the company’s Primera division brought in losses. Primera includes the Cavita, Laurèl, and Apriori brands as well as the Biba retail chain. The company is now forecasting net losses for the full year.
Posted by Blacks on June 27, 2008 08:49 AM
