Soft Sales In All Channels Mark Harold’s Stores’ Second Quarter
Harold’s Stores Inc. reported a second-quarter net loss of $4.8 million, compared with a $5 million net loss a year ago. The company’s sales fell from $19.3 million in second-quarter 2006 to $17.5 million during the quarter just ended.
“While our second quarter loss showed some improvement versus last year, it was less than anticipated due to sales being well below expectations, which resulted in incremental markdowns during the quarter on spring and summer merchandise,” said CEO Ron Staffieri in a statement.
Direct sales (Internet and catalog) were $1 million, down 16.3% compared with last year’s level of $1.2 million.
For the year-to-date, overall sales were $40 million, down 1.1% from the $40.4 million for the same period ia year ago. Direct sales (Internet and catalog) were $2.6 million, up 8.5% from the year ago level of $2.4 million.
The Dallas-based chain operates a series of upscale ladies’ and mens’ specialty stores.
