Clothestime announces first quarter financial results.ANAHEIM, Calif.--(BUSINESS WIRE)--June 6, 1997--The Clothestime Inc. (NASDAQ:CTMEQ) Friday announced results for the first quarter ended April 26, 1997. Sales for the quarter were $42.5 million compared with $43.7 million last year. Net loss for the quarter was $3.4 million, compared with a net loss of $5.9 million for the same period last year. Loss per share was $0.24 compared with a $0.41 loss per share for the same period last year. Clothestime Stores currently operates 322 women's apparel stores in 17 states and Puerto Rico, offering primarily in-season, moderately-priced sportswear, dresses and accessories, emphasizing fashion at a discount from department and specialty stores. -0-
The Clothestime Inc.
Summary Results of Operations (Unaudited)
(000's Omitted, Except Per Share Amounts)
Period Ending
April 26, 1997 April 27, 1996
Net Sales $42,482 $43,667
Net Loss $ 3,380 $ 5,852
Loss Per Share $ 0.24 $ 0.41
Average Shares Outstanding 14,198 14,198
On Dec. 8, 1995, The Clothestime Stores Inc., and five of its subsidiaries filed for protection under Chapter 11 of the U.S. Bankruptcy Code. CONTACT: Clothestime Inc. Douglas L. Pereira, 714/779-5881, Ext. 2410 |
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