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Article: Candie's Reports Increases in Net Revenues for Fourth Quarter and Fiscal Year.
- Article from:
- Business Wire
- Article date:
- April 23, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PURCHASE, N.Y.--(BUSINESS WIRE)--April 23, 1997--
Company to Redeem 1.475 Million Outstanding Class B Warrants
Candie's Inc. announced today a 19 percent increase in net revenues for its fiscal year ended Jan. 31, 1997 ("fiscal 1997"), to $45,005,416 from $37,914,127 in the previous fiscal year.
In order to expand the presence of the Candie's brand name in major department stores, the company lowered prices and increased marketing and advertising expenditures during fiscal 1997. Accordingly, operating income for fiscal 1997 of $965,972 was lower than operating income of $2,057,476 for the prior year. For the year ended Jan. 31, 1997, ...