Casual Male Retail Group Inc, retail brand operator of Causal Male XL, Casual Male Big & Tall, and Rochester Big & Tall, announced its operating results for the first quarter of fiscal 2006.
For the first quarter of fiscal 2006, net income was $1.4 million compared to a net loss of $(1.9) million for the first quarter of fiscal 2005. Results for the first quarter of fiscal 2006 include a gain of $0.02 per diluted share from the sale of the company's loss prevention subsidiary, LP Innovations Inc.
"This is the first time that Causal Male has earned a profit in the first quarter since our acquisition in 2002. Our operating results were $0.05 per diluted share better than a year ago," said David Levin, President and CEO.
Dennis Hernreich, Executive VP, COO and CFO, said, "The first quarter's profitability is a continuation of 2005 results; improvement in gross margins together with solid sales gains. Gross margins are anticipated to continue to improve by approximately 100 basis points for the balance of the year."
Casual Male is pleased to announce that it has acquired Jared M., an apparel company that specializes in selling custom clothing to professional athletes, almost all of whom are big and tall.
"By utilizing our existing real estate, sourcing and marketing capabilities, we see this niche business as a future growth vehicle for our Rochester Big and Tall division.
Jared M has the cache, quality and fashion directionthat will be a great fit with our existing luxury Rochester brand. Jared Margolis, creator of Jared M., has joined the Casual Male team as president of the Jared M. subsidiary," said David Levin.
Casual Male Retail Group Inc, the largest retailer of big and tall men's apparel with retail operations throughout the United States, Canada and London, England, operates 487 Casual Male Big & Tall stores, the Casual Male e-commerce site, Casual Male catalog business, 13 Casual Male at Sears-Canada stores and 23 Rochester Big & Tall stores and a direct to consumer business.
Casual Male Retail Group Inc
marketing@alchempro.com
