US: Retail Ventures swings to Q2 loss
Author: just-style.com | 11 September 2009
- Swings to Q2 loss of $4.4m
- Net sales up 3.4% to $369.5m
- DSW comps drop 2.9%
Off-price retailer Retail Ventures Inc has seen swung to a second quarter loss on lower sales at its DSW shoe stores.
The company, which also supplies shoes to other US retailers, posted a loss from continuing operations of $4.4m, compared to a profit of $25.8m a year earlier.
While net sales for the three months to 1 August rose 3.4% to $369.5m from $357.2m, same store sales at DSW fell 2.9%.
In April, Retail Ventures sold Filene's Basement to US liquidation firm FB II Acquisition Corp. The chain filed for bankruptcy protection the following month, before being sold to cut-price rival Syms.
Sectors: Finance, Footwear, Retail
Companies: DSW, Retail Ventures Inc, Filene’s Basement
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