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Friday, Jun 2, 2023

K-Swiss Nearly Squeaks Out a Gain

Athletic footwear marketer K-Swiss just missed a profitable third quarter, posting a $100,000 loss on revenues of $95,817,000. The acquisition of Palladium SAS helped achieve a better-than-expected period, according to Chairman Steve Nichols, even as international sales, which had been propping up the company’s bottom line, declined. Westlake Village-based K-Swiss reported worldwide revenues were down 10.7 percent from the $107 million earned in the third quarter of ’07. Domestic revenues plunged 29 percent, to $36.9 million in the period while international revenues increased 6.6 percent, to $57.9 million. In terms of guidance, the company expects revenues to continue to fall in the fourth quarter but said it has a healthy balance sheet and is continuing to make investments in K-Swiss and Royal Elastics brands.

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