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11:30AM New York – Apparel retailers report mixed results. Jo-Ann Stores sales rose 5% but sales at Coldwater Creek and Men’s Wearhouse fell 4% and 1% respectively.[/R]
Coldwater Creek Inc, a specialty retailer of women\''s apparel said first quarter revenues fell 4% to $271.1 million from $281.3 million a year ago. Net loss in the quarter was $9.2 million or 10 cents per diluted share compared to net income of $12 million or 13 cents per share, a year ago.
Same-store sales fell 19% in the quarter from a year ago. The company said the revenue decline was mainly due to a decline in traffic. The company\''s premium retail store inventory per square foot fell 16%, while total inventory declined 10% to $126.6 million.
Coldwater Creek Inc stock (
CWTR: chart) closed at $6.22 in Wednesday’s trading.
The Dress Barn, Inc, operates a chain of women\''s apparel specialty stores said third quarter sales rose 1% to $352.6 million from $347.9 million a year ago. Net income in the quarter rose 8% to $24.9 million or 39 cents per diluted share compared to net income of $23.1 million or 33 cents per share, a year ago.
Same-store sales, however, fell 3% during the period. Same-store sales for Dressbarn stores dropped 6%, while comparable sales at the company\''s Maurices stores gained 5%.
The Dress Barn, Inc stock (
DBRN: chart) in Wednesday’s trading closed at $14.01.
Jo-Ann Stores, Inc, fabric and craft retailer stores said first quarter sales rose 5% to $446.1 million from $424.2 million a year ago. Net income in the quarter was $3 million or 12 cents per diluted share compared to net loss of $1.7 million or 7 cents per share, a year ago.
Same-store sales rose 4.5% during the quarter. Total sales at large-format stores rose 5% to $230.2 million, while same-store sales rose 3.3%. Total sales at small-format stores rose 1.4% to $207.7 million, with same-store sales rising 5.8%.
Jo-Ann Stores, Inc stock (
JAS: chart) closed at $21.15 in Wednesday’s trading.
The Men’s Wearhouse, Inc, apparel retailer said first quarter revenues slipped 1.01% to $491.1 million from $496.1 million a year ago. Net income in the quarter dropped 76% to $9.9 million or 19 cents per diluted share compared to net income of $40.9 million or 75 cents per share, a year ago.
The Men’s Wearhouse, Inc stock (
MW: chart) closed at $23.62 in Wednesday’s trading.
The Toronto-Dominion Bank, Canada\''s third-largest bank by assets, said second quarter revenues slipped 4.4% to $3.39 billion from $3.60 billion a year ago. Net income in the quarter dropped 4% to C$841 million or $848.6 million or $1.12 per diluted share compared to net income of C$872 million or $1.20 per share, a year ago.
The Toronto-Dominion Bank stock (
TD: chart) closed at $69.12 in Wednesday’s trading.