L.A. Gear Inc.: The designer and marketer...
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From Times Staff and Wire Reports
L.A. Gear Inc.: The designer and marketer of shoes and apparel said it lost $7.1 million in its fourth quarter, citing lower profit margins because of discounting of certain footwear styles. The loss contrasted with an $11.6-million profit in the year-ago period. Sales rose 14% to $189.3 million. For the year, the Los Angeles-based firm said profit totaled $31.3 million, down 43%, on sales of $902 million, up 46%.
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