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Kenneth Cole posts surprise Q3 profit

Despite the economic downturn, fans of Kenneth Cole watches and clothing have evidently come out in force during the last quarter, according to the company's recent sales statistics.

Earnings, per fully-diluted share, were $186,000 (£112,000) or $0.01 for the quarter, following a loss of between $0.03 (2p) and $0.08 (5p) per share in the previous period.

Kenneth Cole Productions attributed the gains to improved gross margins, effective controls on inventory and significant reductions in the organisation's operating overhead when compared to the prior year's third quarter.

Speaking of the developments, chairman and chief creative officer of the brand - none other than Kenneth Cole himself - said: "Our business is improving, although we still have much work yet to do.

"Our renewed focus on product innovation is creating new opportunities for our brands and our business, which should accelerate our strategic transformation and drive increased value to our shareholders."

Kenneth Cole watches, shoes and clothing currently contribute in part to a number of special causes, including Help USA, Handgun Control, the American Foundation for AIDS Research and the Sundance Institute. ADNFCR-2637-ID-19442923-ADNFCR

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Kenneth Cole posts surprise Q3 profit