Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-The same day an affiliate of Men’s Wearhouse announced its acquisition of Filene’s Basement in a bankruptcy auction, the company’s Q2 2009 results showed a 5.5% decline from the previous quarter due to decreased foot traffic. Furthermore, current year-to-date sales stood at $464.1 million versus the same time last year, when sales were $491 million.

Both operating and net incomes also took a hit, decreasing by almost half from the year before. Furthermore, according to a release from the locally based clothing company, occupancy costs increased to 15.63% from 14.98%, due to deleveraging effects of reduced comparable store sales. Cost-cutting measures, however, did lead to a year-over-year decline of almost 9% in general and administrative expenses.

Despite the somewhat sour news, the release indicated the company will continues moving forward on its real estate goals of opening up to eight stores this year. More could be possible, if opportunities present themselves, the release added. Capital expenditures for the entire year are targeted for between $50 million and $55 million.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.