K-Swiss hit by big loss - sportstextiles: Lea SportsTextiles

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K-Swiss hit by big loss

04/08/2011
Sports footwear brand K-Swiss increased sales by 40% in the second quarter of its fiscal year, but this wasn't enough to return the company to profit. It recorded a loss for the quarter of more than $20 million, saying that rising costs for labour in China was one of the factors.

Other reasons for the loss include an ongoing tax audit by the financial authorities in the US and a $3.7 million write-down on a brand called Form Athletics, which K-Swiss acquired a year ago.

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