Analysts were reportedly disappointed by the figures reported by Kenneth Cole Productions for the first quarter, as the U.S. company plans to go private. Its sales slipped to $116.8 million from $117.5 million a year earlier due to a 6.7 percent drop in retail sales to $31.0 million. Retail revenues were hit by the closure of four shops and a 2.0 percent decline in comparable store sales. In the meantime, wholesale revenues were up by 3.0 percent to $76.7 million. The gross margin widened to 36.9 percent from 35.5 percent a year earlier primarily due to less clearance activity. The net loss narrowed to $1.9 million from $17.2 million. At the end of March, the group had $48.9 million in cash and no long-term debt.