USA: Factory 2-U August Sales Lower Than Expected
Off-price retailer Factory 2-U Stores Inc has posted a 10.7 per cent slide in August same-store sales amid a "disappointing" back-to-school season and said total sales fell 12.5 per cent to $49.2 million from $56.2m in the year-ago period. The company, which has closed 22 stores this year, said same-store sales for the first 30 weeks of the current fiscal year fell 10.3 per cent and total sales were 8.4 per cent below last year's level at $294.2m.
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