Specialty apparel retailer Harold's Stores Inc has announced operating results for the fourth quarter and year-to-date period ended January 28th 2006.
For the year, the company reported a net loss of $6.0 million, compared to net income of $95,000 in the prior year.
For the 2005 fourth quarter, the company reported a net loss of $4.0 million inclusive of the $700,000 of non-recurring expenses, compared to a loss of $147,000 in the previous year. After preferred dividends of $1.5 million, the company reported a loss for the year of $1.20 per diluted and basic share, compared to a loss of $0.23 per diluted and basic share in the prior year.
Net sales for the fiscal year were $88.2 million compared to $89.3 million for the same period in the prior year, a decrease of 1.2 percent. For the fiscal year, total company comparable store sales decreased 4.0 percent, with a decrease of 4.3 percent in the full-line retail stores and an increase of 4.8 percent in the outlet stores.
The company's direct sales (internet and catalog) were $3.2 million for the fiscal year nearly three times the year ago levels of $1.2 million. There was $881,000 in additional warehouse sales volume for the fiscal year.
Net sales for the quarter were $20.6 million, compared to $22.8 million for the same period in the previous year, a decrease of 9.4 percent. Total company comparable store sales decreased 15.0 percent, with a decrease of 15.6 percent in full-line retail stores and an increase of 0.4 percent in the outlet stores.
marketing@alchempro.com
