USA: Bernard Chaus Reports First Quarter Results for Fiscal 2001
Bernard Chaus, Inc today reported a net loss of $936,000, or a loss of $0.03 per diluted share, on net revenues of $40.7m for the period ended September 30. In the year-ago period, net income was $4.3m, or $0.16 per diluted share, on net revenues of $53.2m. Josephine Chaus, chairwoman and CEO, said: "As we anticipated, Chaus' results in the first quarter reflect the ongoing challenging conditions across the apparel marketplace. Within this environment, we have focused on implementing initiatives to highlight and build the Josephine Chaus brand while fine-tuning our merchandising strategies. "During the quarter, we continued the targeted rollout of in-store shops and fixturings, including the introduction of a shop at Macy's Herald Square New York City, and launched an advertising campaign on the NBC Superscreen in Times Square during the Olympics. These and other steps are helping to differentiate our brand and heighten consumer awareness. "In addition, during the quarter, we welcomed industry veteran Nick DiPaolo as our vice chairman and COO. Nick and our experienced team are fully focused on navigating the challenges of the current marketplace and positioning the company for long-term growth."
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