USA: Loehmann's Q3 Profit Up 90% On Solid Sales
The New York-based operator of 44 outlets said in a statement net sales increased 13.3 per cent to $94.7m from $83.6m in 2001 with same-store sales up 12.1 per cent.
The company said it is "cautiously optimistic about our next quarter and the upcoming fiscal year".P>CEO Robert Friedman said: "We are very pleased with our performance in the third quarter in what remains a challenging economic environment.
"The second consecutive quarter of double-digit comp store sales increases maintains the momentum built early in the year, and reflects our ability to continually offer our customers high quality labels at a great value."
He added: "Importantly, we experienced strong increases across all categories, with particular strength exhibited by our back room assortment of Designer and Bridge apparel as well as in our coat, sweater, shoe and men's departments."
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