Le Château Inc, a Canadian specialty retailer and manufacturer of apparel, posted 7.8 per cent sales decline to $175.9 million (Canadian dollars) in fiscal year 2020 ended on January 25, 2020, compared to sales of $190.9 million in previous year. Company incurred a net loss of $69.2 million compared to loss of $23.8 million in previous year.
Le Château Inc, a Canadian specialty retailer and manufacturer of apparel, posted 7.8 per cent sales decline to $175.9 million (Canadian dollars) in fiscal year 2020 ended on January 25, 2020, compared to sales of $190.9 million in previous year. Company incurred a net loss of $69.2 million compared to loss of $23.8 million in previous year.#
Comparable store sales, which includes online sales, decreased 3.8 per cent, with comparable regular store sales down 4.8 per cent and comparable outlet store sales grew 3.8 per cent. However, company experienced strong growth through its online channel with online sales increasing 20.8 per cent for the year.
Le Château Inc, a Canadian specialty retailer and manufacturer of apparel, posted 7.8 per cent sales decline to $175.9 million (Canadian dollars) in fiscal year 2020 ended on January 25, 2020, compared to sales of $190.9 million in previous year. Company incurred a net loss of $69.2 million compared to loss of $23.8 million in previous year.#
Company also stated in a press release that it continues to experience strong growth through its online channel with online sales increasing 20.8 per cent for the year.
Le Château Inc, a Canadian specialty retailer and manufacturer of apparel, posted 7.8 per cent sales decline to $175.9 million (Canadian dollars) in fiscal year 2020 ended on January 25, 2020, compared to sales of $190.9 million in previous year. Company incurred a net loss of $69.2 million compared to loss of $23.8 million in previous year.#
Sales for the fourth quarter (Q4) fell to $48.0 million (Q4 FY20: $51.4 million). Net loss for the quarter were $51.2 million (Q4 FY19: $6.1 million).
Le Château Inc, a Canadian specialty retailer and manufacturer of apparel, posted 7.8 per cent sales decline to $175.9 million (Canadian dollars) in fiscal year 2020 ended on January 25, 2020, compared to sales of $190.9 million in previous year. Company incurred a net loss of $69.2 million compared to loss of $23.8 million in previous year.#
During the year, company closed 10 stores. As at January 25, 2020, Le Château operated 129 stores (including 12 fashion outlet stores) compared to 139 stores (including 21 fashion outlet stores) as at January 26, 2019.
ALCHEMPro News Desk (JL)
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