Net loss more than doubled to $4,448,000 from $2,137,000 in the first quarter ended Apr. 29 on higher compensation spending, even as revenues gained 5% to $181,155,000 from $172,970,000 bolstered by comp store sales that increased 1.8% against a -7.5% comp in Q1 last year. Comp sales turned positive in Mar. after a 0.8% decline in Feb., then gained high-single digits in Apr. Men’s and juniors’ comped positive, while footwear, hardgoods and accessories comped down. Despite lower traffic, transactions increased but dollars per transaction declined from lower units per transaction partially offset by higher AUR.
The sales momentum continued in May, ... Log in to view full article.