Mossimo Won’t Keep Chief Executive

Apparel maker Mossimo Inc. of Irvine said it won’t extend the contract of Chief Executive John Brincko, who was hired in January to reverse the firm’s downward slide. Brincko’s one-year contract included a six-month extension option, but the company said he will leave at year’s end. It was unclear who will take the reins. Mossimo reported a third-quarter loss of $3.4 million, or 23 cents a share, compared with a $4.8-million loss, or 32 cents, a year ago. Sales fell to $11 million, compared with $16.5 million.