New stores helped Irvine-based St. John Knits International Inc. see a 7% rise in sales to $396 million for the 12 months ended Oct. 31, according to a recent filing with the Securities and Exchange Commission.
In all, sales were $25 million higher than in the year-ago period. Expanded stores in Beverly Hills and Chicago made up $10 million of the increase for St. John, which makes women’s suits and other clothes.
Sales to department stores and other retailers made up nearly $8 million in additional sales. Higher sales in Japan and elsewhere abroad made up the rest of the increase.
St. John’s retail expansion also has brought added costs. Net income for the period was off 10% from a year earlier to $13.4 million. The company’s costs of sales was up 14% to $179 million, primarily due to the retail expansion.
The company, known for its knit suits worn by celebrities and socialites, has more than tripled the number of stores it operates in the past four years.
The effort is set to continue under Richard Cohen, who left the North American arm of Italy’s Gruppo Ermenegildo Zegna to run St. John last year.
St. John has made efforts to cut costs, including closing and consolidating some manufacturing and selling four facilities in Irvine for $20 million and then leasing them back.
