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Donna Karan beauty business

This article was originally published in The Rose Sheet

Executive Summary

Revenues for FY 1997 (ended Dec. 28) fell to $18.7 mil., compared to $43.7 mil. in the prior year, partially due to the wind- down of operations following the licensing agreement with Estee Lauder, Donna Karan announced March 23. The company took a $23.4 mil. charge related to the licensing deal for the year. In the fourth quarter, beauty business revenues were "negligible," compared to $20.1 mil. in the corresponding period of FY 1996. Consolidated revenues for the fashion house increased 4.2% to $638.7 mil. on a pro forma basis, assuming that Donna Karan's initial public offering (July 3, 1996) occurred on the first day of FY 1996. The company reported an $81.4 mil. loss compared to net income of $12.9 mil. the prior year...
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