USA: S&K Famous Brands' Q2 Earnings Rocket 500%
The Virginia-based operator of 234 stores posted net income for the quarter ended August 2 $301,000, or 12 cents per diluted share, compared to $55,000, or two cents per share, in the same period last year.
Total sales rose nine per cent to $39.4 million from $36.1m with same-store sales also up nine per cent.
President and CEO, Stewart Kasen, said in a statement: "The company's second quarter pre-tax earnings were significantly higher than last year.
"Most of this quarter's elevated inventory levels were planned to fuel higher sales. We are pleased with our first half results."
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