Syms Corp a leading off-price retailer, announced results for its first quarter ended June 2, 2007.
For the thirteen weeks ended June 2, 2007, the Company had a net profit of $674,000 ($0.05 per share) as compared to $5,738,000 ($0.38 per share) for the 13-week period ended May 27, 2006.
In the first quarter ended May 27, 2006, the Company recorded a pre-tax gain on the sale of real estate amounting to approximately $10,424,000.
This resulted from the sale of its stores in May 2006, located in Dallas, Texas and Rochester, New York. The Dallas store has been replaced by a leased property located in Plano, Texas.
The Company's net sales for the 13 weeks ended June 2, 2007 increased to $67,147,000 from $66,193,000 for the comparable 13 week period last year.
Same store sales for the period ended June 2, 2007 increased 5.6% compared with the comparable 13 week period last year.
marketing@alchempro.com
