Damark Cuts Losses but Posts Revenue Drop

Cataloger Damark International Inc., Minneapolis, reported a net loss of $1.4 million for the quarter ended July 3, an improvement over a net loss of $4.6 million for the same time in 1998.

Total net revenues for the quarter were $112.2 million, down 2.9% from $115.6 million in the 1998 comparable period.

For the half, Damark’s net loss was $2.3 million, compared to a net loss of $4.5 in the first half of 1998. Total net revenues for the period were $221.7 million, down 11.6% from $250.8 million in the comparable period last year.