• Q2 net loss widened to US$21m
  • Net sales down 24.8%

Value apparel retailer Body Central Corp reported a widening of its net loss in the second quarter as a result of one-off non-cash charges.

In the three months ended 28 June, net losses amounted to US$21m. This compared to losses of $12.8m a year earlier and includes $5.6m of non-cash charges.

Last month, the company announced an $18m investment in the company, which it said provided the group with "much-needed operating liquidity". Management is now pursuing a programme of expense cuts.

Net revenues for the quarter dropped 24.8% to $56.5m, while retail sales were down 22.2% to $52m, primarily due to a comparable-store sales decrease of 22.6%. Direct sales were down 46.3% to $4.4m.