St. John Knits Inc.'s profits rose 40% to $8.6 million, or $.50 per share, during the 3rd qtr ended Nov 3, 1996, up from Wall Street expectations by $.46. The firm is one of the several luxury goods companies that are gaining ground during the holiday season. During the quarter, sales rose 27.6% to $6.1 million, compared with the previous year, and gross margins reached 57.9% of sales., NEW YORK -- Driven by higher margins and strength across all product categories, St. John Knits Inc. reported profits surged 40 percent in the fourth quarter ended Nov. 3., to [...]