USA: Factory 2-U Stores Posts Jump In January Sales
Factory 2-U Stores Inc, an off-price retailer of branded casual apparel, on Thursday posted a 5.6 per cent rise in January sales compared to the year-ago period and confirmed it will close 28 stores that will result in a $13.2 million after-tax charge.
The retail giant said sales for the four week period ended February 2, 2002 totalled $27.5 million while comparable store sales for that period fell 9.6 per cent versus an increase of 1.8 per cent last year.
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