St. John Knits of Irvine Sees Quarterly Net Income Jump 45%
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St. John Knits Inc., an Irvine women’s clothing maker, said Thursday that net income for the second quarter ended April 30 rose by 45% to $5.1 million, up from $3.5 million a year ago. Revenue rose by 26% to $40.6 million. Quarterly earnings per share rose to 62 cents, up from 43 cents a year earlier.
First-half net income rose by 44% to $9 million, up from $6.3 million, on revenue that rose by 29% to $76.9 million.
St. John Chairman Bob Gray linked the strong sales in the company’s retail stores. Same-store sales, an important measure of retailing success, rose by 21% for the second quarter and 24% during the first half.
St. John will open its 15th and 16th retail boutiques in Atlanta and Chicago during the months of June and July. A fourth outlet store, at the Great Mall of the Bay Area in Milpitas, also is scheduled to open during the summer.
Irvine-based St. John designs, manufactures and markets women’s clothing and accessories.
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St. John Knits Looking Good
In the second quarter, ended April 30, St. John Knits reported net income of $5.1 million, up 45%. Revenue increased 26% to $40.6 million. Figures in millions, except per-share data:
2nd qtr 2nd qtr 6 months 6 months 1994 1995 1994 1995 Revenue $32.2 $40.6 $59.5 $76.9 Net income 3.5 5.1 6.3 9.1 Per share 0.43 0.62 0.77 1.11
Source: St. John Knits; Researched by JANICE L. JONES / Los Angeles Times
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