USA: Factory 2-U Stores Narrows Q1 Loss
Off-price apparel chain Factory 2-U Stores Inc on Wednesday posted a slight fall in first quarter net loss despite a slide in sales on a lower store base and a successful cost-cutting programme. The California-based operator of 242 stores reported a net loss of $2.7 million, or 19 cents a share, versus $3.1m, or 24 cents a share in the same quarter of last year.
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