September 11, 1998 |
St. John Knits, struggling to fix problems in its high-end apparel and home-store lines, said Thursday that third-quarter profit rose 2% as sales surged more than 20%. The results were in line with the Irvine company's warning last month that profits and sales would be below analysts' expectations, news that triggered a 30% plunge in St. John's shares. On Thursday, St. John lost an additional 2.4%, to $17.63, a 52-week low as the overall stock market moved dramatically lower.
August 26, 1998 |
Upscale clothier St. John Knits warned Tuesday that its earnings will fall short of analysts' expectations for the second consecutive quarter. St. John blamed the disappointing numbers on excess inventory at retail boutiques that forced markdowns in the merchandise. The company also said it continued to be plagued by "production labor inefficiencies." The company did not elaborate, and executives were not available to comment.
July 19, 1998 |
St. John Knits Inc., maker of upscale women's clothing, said Thursday that its board has approved a one-year extension of the company's employment agreement with Chief Executive Robert Gray. Earlier, Gray had hinted that he would pass the chief executive's title to daughter Kelly Gray this year. Kelly, 31, is the company's president.
May 30, 1998 |
The detail-oriented executive who runs St. John Knits was scouring the clothing racks at South Coast Plaza, and what he found was not pretty. Well, pretty, maybe, but not perfect. Amid the racks of stylish and immaculate St. John apparel, sought by well-heeled women from Barbara Walters to Hillary Clinton, were garments with crooked pockets and loose buttons. In a move that exemplifies a company obsessed with perfection, Chief Executive Bob Gray quickly dispatched St.
February 20, 1998 |
Executives at St. John Knits saw modest increases in their pay in 1997 as the company's profits soared, but its stock price slumped. In its annual proxy statement filed with the Securities and Exchange Commission, the Irvine-based maker of upscale women's apparel reported that the pay of co-founder, chairman and chief executive Robert E. Gray rose 3.3% last year, to $1.56 million. Co-founder and chief designer Marie Gray earned $419,457, a 5.
December 19, 1997 |
Imagine the shivers of any design team tasked with conceiving yet another sport-utility vehicle, and at the apparent crest of the craze. With dozens of these beasts of suburban burden filling every yard of our highways, considerations are many. Do you build a college coed's toy? Decide upon something mid-sized, priced for mainstreamers? Or put all your eggs into a luxury mini-semi and aim it at senior professionals with six-figure incomes? All-purpose, or all looks?
September 10, 1997
St. John Knits, which designs and manufactures women's clothing and accessories, said third-quarter net income totaled $7.2 million, or 42 cents a share, 20% higher than the $6 million, or 35 cents a share, posted for the same period last year. Sales for the quarter ended Aug. 3 advanced 18% to $54.8 million from $46.5 million. Net income for the first three quarters increased 27% to $23.5 million, or $1.37 a share, from $18.5 million, or $1.09 a share, for the same period a year ago.
June 7, 1997
St. John Knits Inc., designer, manufacturer and marketer of women's clothing and accessories, reported a 31% increase in net income for the second fiscal quarter on a 19% gain in sales. Net income for the three months ended May 4 rose to $8.9 million, or 52 cents a share, from $6.8 million, or 40 cents a share, for the same period last year. Sales were up 19% to $59.6 million from $50 million. For the first six months, net income totaled $16.