The chain plans to open approximately 20 stores this year,compared with 31 new units in 2006. However, the company has noplans to close units this year after closing two in 2006.
"We continue to work with a long-term plan," said RobertDiNicola, chairman and CEO. "The business was not broken overnight,and it won't be fixed overnight."
The company reported total net sales of $956.8 million for thefourth quarter, a 3.9% increase over the same quarter in 2005.Comparable store sales dropped 0.2%, though comps rose 3.4% for theNovember/December holiday period. The chain posted a net loss of$22.5 million for the quarter, compared with net earnings of $45.0million in the fourth quarter of 2005.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
