Right Start Posts Loss as Quarterly Sales Slide
Right Start Inc. posted a large loss in its first quarter on a 7% decline in revenues.
The Westlake Village-based concern markets products for babies and young children through retail stores and a catalog.
In the quarter that ended Aug. 31, the company lost $1.57 million, compared to a profit of $34,000 in the same period a year earlier. Sales in the latest quarter were $8.89 million, down from $9.54 million last year.
The company is shifting its emphasis more to retail stores, opening three new stores in its first quarter, and it expects to have 12 more in operation by Thanksgiving. That would give Right Start 37 stores.
Right Start also said that it raised $3 million in a private placement of subordinated convertible debentures with Cahill Warnock Strategic Partners LP.
