Casual Male Retail Group Inc. posted a net loss of $3.2 million for the third quarter, compared to net loss of $3.8 million in the prior year.
The direct marketer and retailer reported sales of $100 million for the quarter ended Nov. 1, a 5.7% decrease from $106.1 million last year.
The Canton, MA firm reported gross profit of $42.2 million for the quarter, a decrease from $46.5million in the prior year.
In addition, Casual Male posted selling, general and administrative expenses of $42.7 million for the quarter, compared to $44 million last year.
“The Company is keenly focused on managing its cash flow and maintaining a strong and liquid balance sheet,” said Dennis Hernreich, CFO, in a statement.“At the end of the third quarter, the company's inventory levels are close to 7% lower than last year and its capital expenditures have dropped by more than 40% from last year.”
