Harold’s Stores Inc., Dallas, reported a net loss of $2.9 million during its second quarter, compared with a $1.2 million net loss in second quarter 2004. Sales for the quarter were $20.3 million, up from $19.3 million a year earlier. The quarter ended July 30.
While comparable store sales were off slightly during the quarter, online and catalog sales quintupled from $134,000 to $670,000.
“Our second quarter loss was primarily a result of incremental markdowns taken during the quarter on ladies’ spring and summer merchandise,” said Leonard Snyder, Interim Chief Executive Officer, in a statement. The company had overpurchased this merchandise, but expected sales did not materialize.
Network
