SG&A expense for the third quarter improved to 33.9 percent of sales versus 35.3 percent in the year-ago quarter due to leverage on the sales increase.
The Company's consolidated inventories decreased 3.5 percent to $54.2 million on September 30, 2006 versus the year-ago level of $56.1 million, led by a decline in consumer direct inventories of 9.6 percent.
Wholesale inventories were up 2.8 percent, below the increase in the wholesale backlog.
The Company announced that its board of directors had approved its quarterly dividend of $0.18 per share. The dividend is payable on December 14, 2006 to shareholders of record as of November 22, 2006.
Kenneth Cole Productions Inc
marketing@alchempro.com
