USA: Casual Male Posts Slight Q4 Sales Downturn
The Massachusetts-based company, which operates 561 stores throughout the United States and Puerto Rico, also saw comparable store sales climb 2.4 per cent for the quarter.
CEO David Levin said the largely "positive results" were due to new merchandising initiatives put in place mid-last year.
"The company's sales performance in the fourth quarter, and its close management of inventory levels, resulted in stable gross margins during the quarter," executive vice-president Dennis Hernreich said.
"In addition, the company's balance sheet is well positioned to support our Casual Male growth with just under $4m borrowed on a $90m revolving facility at year end."
Casual Male Retail Group operates the Casual Male Big & Tall, Levi's Outlet By Designs, Dockers Outlet By Designs and Ecko Unltd retail chains.
Companies: Levi Strauss & Co
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