US: Syms FY profit slumps to $0.8m
Full year profit at off-price apparel chain Syms Corp slumped to $0.8m, from $9.5m in 2006, which it blamed on a gain from real estatesales in the prior year.
Net income for the 13 weeks ended 1 March was $0.3m, compared to $3.2m for the final quarter of last year.
Net sales for the fourth quarter decreased 13.8% to $68.6m, compared to $79.5m last year and were down 5% to $267.1m for the full-year.
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Off-price retailer Syms Corp recorded a first-half net loss of US$0.7m, identical to the figures for the same period last year, the company said....
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