Net income fell 17% to $19,063,000 from $22,889,000 for the 13 weeks ended Apr. 1 on a 3% decline in revenues to $678,021,000 from 719,915,000 with comps down 8.9%. The financial services division had its usual robust results with operating income of $68,584,000 compared to $60,751,000 on sales of $149,999,000 compared to $140,823,000; however, the loss at the retail operation ballooned to $30,071,000 from $16,395,000 as sales dropped 6% to $678,021,000 from $719,915,000.

CAB, which didn’t hold an investor call, did comment that it was disappointed with its retail business, saying that it had seen a decline in store traffic along ... Log in to view full article.