CANADA: La Senza Blames Dock Strike For Q3 Losses
The Quebec-based firm reported a net loss of $1.4 million, or 10 cents a share, versus $2.5m, or 19 cents a share, in the year-ago period, although that included a one-time charge of $5.7m. Sales climbed to $95.1m from $89.5m in 2001.
Chairman and CEO Irv Teitelbaum cited the dock strike, unseasonal warmer weather and a lack of "significant fashion change" for the disappointing results but added its fourth quarter is traditionally its strongest period.
"The economic environment in the second half of 2002 is a challenging one for apparel retailers," he said. "Nevertheless, we have every indication that our core business in lingerie will have a solid and critical success in the fourth quarter."
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