L.A. Gear Inc. reported third-quarter earnings of...
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L.A. Gear Inc. reported third-quarter earnings of $7.2 million, the footwear company’s first quarterly profit in three years.
In trading on the New York Stock Exchange, L.A. Gear shares rose by $1.25 to $11.875, a 12% gain.
The company’s profit in the quarter that ended Aug. 31 came to 32 cents per share, compared with a loss of $11.4 million, or 51 cents, in the year-earlier period.
Sales rose 5% to $143 million from $136.4 million.
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