K-Swiss announces loss in Q4
Athletic apparel company K-Swiss has widened its net loss for the fourth quarter and the 2010 fiscal year when compared to the same periods from a year ago.
The firm reported a net loss of $20.6 million on revenue of $42.6 million for the quarter ending 31 December 2010. For the same period in 2009, the company had a net loss of $12.5 million on revenues of $42 million.
For the 2010 fiscal year, K-Swiss had a net loss of $68.2 million on revenues of $217 million. For the 2009 fiscal year, the company had a net loss of $28 million on revenues of $240.7 million.
K-Swiss management used 2010 as a year in which to invest in and reposition its brand and to market its new Tubes and Blade lines to a youth customer base. K-Swiss now offers running and training shoes to make up in sales what the tennis line can no longer bring in.
The commitment to brand awareness at all costs is showing results in the positive swing in future orders, said company president Steven Nichols.
