USA: Gottschalks Department Stores Feel The Strain
Department store chain Gottschalks Inc reported financial results for its second quarter ended August 4, 2001. The net loss for the quarter, excluding non-recurring charges related to costs associated with the closure of stores and the company's third-party distribution centre, was $2.4m, or $0.19 per share. This compares to net income, excluding non-recurring charges, of $602,000, or $0.05 per share in the second quarter last year. Including the non-recurring charges the net loss for the quarter was $2.8m, or $0.22 per share, compared to net income of $11,000 or $0.00 per share in the second quarter last year.
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