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Article: ST. JOHN PROFIT DOWN 36.8% IN 1ST QUARTER.
- Article from:
- WWD
- Article date:
- March 15, 1999
- Author:
CopyrightCOPYRIGHT 1999 Conde Nast Publications, Inc. 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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NEW YORK -- St. John Knits, which is in the midst of going private after struggling to meet Wall Street's demands for growth, reported earnings for the first quarter ended Jan. 31 slid 36.8 percent as sales gained 6.7 percent.
Earnings for the three months amounted to $5.8 million, or 34 cents a share on a diluted basis, against $9.2 million, or 54 cents, a year earlier. Sales rose $73.4 million from $68.8 million.
Sales for the firm's retail group, which includes the company's 17 boutiques and nine outlet stores, rose 19.2 percent to $22.9 million from $19.2 million. Same-store sales for the retail boutiques rose 21 percent, St. John said.
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