US: Bernard Chaus Q3 profit halves
Third quarter profit at women's wear maker Bernard Chaus Inc has more than halved on lower sales in its club and private label channels.
For the three months to 31 March, net income fell 53.8% to $260,000, or $0.01 per share, from $563,000, or $0.01 per share, in the same period a year ago.
Quarterly revenues were down 14.4% to $32.7m from $38.2m.
Josephine Chaus, chairwoman and chief executive officer, said: "During the quarter, we saw solid growth in our department and specialty store businesses with our Chaus and Kenneth Cole brands, offset by lower results in our club and private label channels."
For the nine month period, the company swung to a net loss of $4.5m, or $0.12 per share, compared to a net income of $3.1m, or $0.08 per share, in the year-ago period.
Nine-month revenues were down 20.1% to $93.6m from $117.1m.
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