The men’s apparel retailer reported a 1.9% drop in total sales to $535 million from $556.8 million in the prior year as tuxedo rental revenues, representing 6.5% of total sales, increased 141.9%, largely influenced by the addition of After Hours. The company expects to close its Canadian based manufacturing facility, operated by its subsidiary, Golden Brand in 2008. It also repurchased 1.2 million shares at a value of $27.7 million, or the equivalent of $23 per share. |
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