K-Swiss Reports Net Loss for Q3

K-Swiss Inc. reported a net loss for its third quarter this year with lower international sales, but it is expecting improvement in 2011, the Westlake Village shoe retailer announced. The company reported net loss of $28.3 million, or $0.80 per diluted share, on revenues of $61.6 million for the third quarter of this year. For the same period last year, the company reported net loss of $2.8 million, or $0.08 per diluted share, on revenues of $70.6 million. While domestic revenues increased by 13.2 percent, international revenues decreased by 26.1 percent. Meanwhile, the company saw increases for both domestic and international futures orders. “While the results over the last couple of years have been dismal, there are an increasing number of ‘green shoots’ of promise that Spring will in fact come in 2011,” said Steven Nichols, the company’s president and board chairman. “Our domestic futures orders are up 50 percent and positive worldwide, which could be an acknowledgment that our three years of investing in innovative and brand positioning might pay off.” For 2010, the company expects full-year consolidated revenues will be 5 percent to 10 percent less than revenues for 2009. Jessica Vernabe