The NYC-based owner of DKNY and Donna Karan has reported a 36.1% decline in its Q1 sales as a result of the Covid-19 pandemic, and also announced the permanent closure of its Wilsons Leather and G.H. Bass Stores.
Extended store closures, furlough programs and base salary reductions are just some of the measures announced by U.S.-based fashion retailers such as Crocs, Ascena and G-III since the start of the week.
The owner of DKNY, Donna Karan and Vilebrequin, among other brands, announced on Thursday that it achieved net income of $25.3 million, or $0.52 per diluted share, in Q4 2020, beating Wall Street’s expectations.
The owner of Donna Karan and DKNY announced a 5.2% increase in sales for the third quarter on Wednesday, a lower than expected increase, which combined with the company’s lowered full-year guidance, sent shares tumbling.
The owner of brands including DKNY and Andrew Marc, announced moderate increases in sales and income for the second quarter on Thursday, but revised down its full-year earnings guidance in the face of mounting tariffs.
The NYC-based apparel company has announced that it has entered into an agreement with the PVH-owned brand for the design, production and distribution of the its women’s jeanswear collections in the US and Canada.
Fran Della Badia has been named president of AM Retail, the G-III subsidiary that operates stores and websites for DKNY, Wilsons Leather, and Karl Lagerfeld Paris, as well as stores for Calvin Klein Performance.