The NYC-based owner of brands including DKNY and Donna Karan reported net sales of $2.06 billion for the fiscal year ended January 31, 2021, on Thursday, a decrease of 35.0% from $3.16 billion in the previous year.
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.