X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CANTON, MA-Same-store sales fell 0.2% year over year during Casual Male Retail Group’s fourth quarter, while total sales fell 7.5%, to $133.9 million. “The men’s apparel business was at the forefront of the slowdown,” said David Levin, the plus-sized retailer’s president and chief executive officer, during a fourth-quarter conference call, pointing out that men cut back before other apparel shoppers during an economic downturn.

One of the things management plans to do this year to fight lower sales is decreasing capital expenditures by 50% from last year, to between $11 million and $12 million. The company’s total store count is expected to stay flat at 488 units, made up of 462 Casual Male XL retail and outlet stores and 26 Rochester Big & Tall stores.

For the coming year, management predicts that same-store sales will come in between a drop of 2% and flat from 2007. Earnings per share are forecast to hit from 25 cents to 30 cents, up from 1 cent last year.

Casual Male Group also plans to launch an e-commerce site in Europe this year. Management said that its London Rochester location is the second-most productive in the entire chain.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.