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Seattle-Based Golf-Apparel Retailer Posts Big Profit Drop, Plans to Reorganize

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Dec. 12–Stung by a drop-off in demand for its golf-inspired apparel, Cutter & Buck yesterday reported a 93 percent decline in second-quarter profit and said it will take a reorganization charge of at least $7 million during the second half of its fiscal year. The Seattle-based retailer said its second-quarter profit was $225,000, or 2 cents a share, down from $3.1 million, or 29 cents a share, a year earlier. The results were in line with analysts’ expectations.Net…Press: Knight-Ridder/Tribune Business News

This entry was posted on Wednesday, December 12th, 2001 at 12:00 am and is filed under golf apparel. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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