Clothestime Retail Chain Nets Loss Amid Higher Sales
Clothestime, the discount women’s apparel retail chain, reported Tuesday a $1.4-million loss on a 14% increase in sales during its first quarter, ended April 28.
Sales for the Anaheim company were $46.8 million. They were $41.2 million in the same period a year earlier.
The company’s loss was in contrast with a net profit of $82,000 in the corresponding quarter a year ago.
Clothestime officials could not be reached for comment.
In March, Clothestime reported a $4.2-million loss for its fourth quarter, which left it with just a $461,000 profit for the year. Analysts blamed extreme Christmas price competition for the fourth-quarter loss.
The company operates 359 women’s apparel stores in 15 states.