Cole Spell

Kenneth Cole Productions Inc. (New York) reported an 18.5 percent increase in quarterly net revenue and a 14.8 percent increase in earnings for the period ending March 31, 2003.

However, while wholesale revenues for the first quarter increased 29.1 percent, consumer direct revenues decreased 2.6 percent and same-store sales dropped 7.3 percent.

“We are pleased to have reported earnings in-line with our expectations for the first quarter,” said chairman and ceo Kenneth Cole. “While the retail marketplace remains challenging, we are proud of the job we have been able to do. We are realistic about the environment and will continue to plan and operate appropriately.”