Apex Global Brands Narrows Loss in Q2
Net loss at the Hi-Tec brand owner was down to just $1,267,000 in the second quarter ended Aug. 3 against a loss of $9,053,000 last year that included $5.6 million in restructuring charges. Licensing revenues were off 21% to $5,603,000 from $7,073,000 with $1.3 million of the decline from lower European Hi-Tec and Cherokee royalties blamed on Brexit and the strengthening dollar against the pound and Euro. Hi-Tec royalties declined to $2.8 million from $3.0 million. The expiration of the South African license for ... Log in to view full article.