Hanover Direct saw its third quarter net loss widen to $16.6 million from $4.2 million, while its revenue dropped from $106 million to $96.6 million. The company attributed most of the current loss to new regulations requiring it to classify preferred stock as a liability. The quarter ended Sept. 27.
Hanover Direct also indicated that it had experienced softness in demand for its products, and had reduced unprofitable circulation. The company
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