USA: Too Inc Posts Improved Q2 Earnings
Retailer Too Inc today reported improved earnings for the second quarter 2002 helped by higher merchandise margins and lower expenses as a percentage of net sales. Net income for the 2002 quarter was $5.5 million compared to $2.9 million reported for the 2001 period. The firm, which sells apparel for young girls , said net sales for the thirteen weeks ended 3 August 2002 increased 13 per cent to $141.2 million, compared to $125.5 million for the same period last year. Comparable store sales for the 2002 quarter were flat with last year, matching the flat comparable store sales figure for the second quarter 2001.
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