Leading off-price retailer, Syms Corporation announced results for the third quarter ended November 26, 2005.
For the third quarter ended November 26, 2005 the Company had a net profit of $1.2 million ($0.08 per share) as compared to a net profit of $2.0 million ($0.13 per share) for the 13 week period ended November 27, 2004.
For the 39-week period ended November 26, 2005, the Company had a net profit of $1.0 million ($0.07 per share) as compared to a net loss of $1.7 million ($0.11 per share) for the 39 weeks ended November 27, 2004.
The net profit for the third quarter ended November 27, 2004 was impacted by the sale of property in Roseland, New Jersey and the recorded gain of $721,000.
Net sales for the third quarter ended November 26, 2005 decreased 1.7 percent to $74.7 million, compared to $76.0 million for the same period last year.
Net sales for the 39-week period ended November 27, 2004 decreased 1.0 percent, $203.6 million from $205.6 million for the same period last year.
Same store sales for the third quarter ended November 26, 2005 decreased 0.2 percent compared to the same period last year, and for the 39-week period ended November 26, 2005, increased 2.1 percent compared to the same period last year.
Syms currently operates a chain of thirty seven 'off-price' apparel stores located throughout the Northeastern and Middle Atlantic regions and in the Midwest, Southeast and Southwest.
Each Syms store offers a broad range of first quality, in-season merchandise bearing nationally recognized designer and brand-name labels.
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