USA: Gottschalks Swings To Q4 Loss On Charges
The California-based operator of nearly 80 stores posted a net loss of $4.6 million for the quarter ended February 1 compared to a year-ago profit of $10.4m on the back of special charges of $20.1m.
For the full year it posted a net loss of $12m versus $0.4m last year while total sales fell 2.7 per cent to $691.4m from $710.7m with same-store sales down 0.8 per cent.
Earlier this year, the firm unveiled plans to aggressively pursue opportunities with its private-label brands and launch a new private label for kids in a bid to boost private-label sales by 15 per cent to $80m in 2003.
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