US: Unseasonal weather weighs on Casual Male Q1
- Net income flat with last year at $4.2m
- Total sales increased 0.9% to $95.8m
- Comparable sales rose 2.2%
Casual Male Retail Group Inc, which sells apparel for big and tall men, says its first quarter profit was flat with the same period last year after "adverse" weather in some regions weighed on sales.
“Comparable sales for our northeast and midwest regions were over 3% lower than comparable sales for our southern and western regions, principally due to adverse weather in those regions,” a statement said. “As a result, comparable sales for the first quarter of fiscal 2011 were 1.5% lower than expected.”
Gross margin improved 100 basis points to 46.9%, it added, thanks to higher merchandise margins.
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Casual Male Retail Group Inc, the chain of apparel stores for big and tall men, has lowered its full-year earnings outlook after third quarter sales came in "below expectations" and pushed it to a los...
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