US: Body Central moves to Q4 net loss
- Q4 net loss of US$23.3m
- Sales fall 18.3%
Body Central has moved to a net loss in its fourth-quarter as the value apparel retailer works to improve its store and direct business merchandising assortments and drive traffic.
In the three months ended 28 December, the company recorded a net loss of US$23.3m, which included an $11.1m impairment charge. This compared to earnings of $2.4m a year earlier.
Net revenues were down 18.3% to $66.2m from $81m in the year ago period. Store sales dropped 19.5% to $59.4m due to a comparable-store sales decrease of 26%, partially offset by a net increase of 18 stores from the fourth quarter last year. Direct sales slipped 6.9% to $6.7m.
CEO Brian Woolf said: "Our fourth quarter results reflect challenges facing the company as we work to improve our store and direct business merchandising assortments and drive traffic. We remain focused on executing our strategy and serving our customers amid a difficult environment."
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