The US designer and marketer of young women’s footwear, Candie’s Inc. has reported that in the year ended January 31, 2001, net revenues increased $1.5 million, to $95.2 million, compared with $93.7 million in Fiscal 2000.

However, the company’s net loss was $8.2 million, or $.43 per fully diluted share, as compared to a net loss of $25.2 million, or $1.41 per fully diluted share in the prior year. Included in the Fiscal 2001 net loss were $2.7 million of certain non-recurring and special charges, as compared to $11.0 million in the prior year.

Revenues from the sale of Candie's women's footwear increased by $6.0 million, or 13.2% reflecting the Company's focus on its core branded footwear business.

Candie's brand footwear increased $4.8 million to $25.1 million at April 20, 2001, as compared to $20.3 million at April 20, 2000. Projected gross profit as a percentage of revenues on the backlog for Candie's brand footwear increased 8.2%.