Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, March 4, 1994 TAG: 9403040169
SECTION: BUSINESS PAGE: A-9 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Woolworth Corp., New York retailer with F.W. Woolworth, Champs Sports, Foot Locker and Lady Foot Locker stores in the Roanoke Valley, on Thursday reported a net loss of $46 million, or 35 cents per share, for the thirteen-week period ended January 29, compared with net income of $165 million, or $1.26 per share, for the 1993 period. Revenues declined 10 percent to $2,816 million from $3,135 million. Specialty-store revenues increased 3.5 percent; general merchandise revenues dropped 21 percent.
The 1994 quarter reflected an after-tax loss of $104 million, or 79 cents per share, expected from the pending disposition of Woolco stores in Canada and an $89 million, or 69 cents per share, after-tax reversal of the repositioning charge taken in the third quarter of 1993.
For the year, the company reported a net loss of $495 million, or $3.76 per share, compared with net income of $280 million, or $2.14 per share, in the previous year. Revenues fell 3.4 percent to $9,626 million from $9,962 million. Specialty-store revenues increased 4.6 percent; general merchandise revenues dropped 10 percent.
The Dress Barn
The Dress Barn Inc., a Stanford, Conn., company that operates 34 stores in Virginia, including stores in Lynchburg, Waynesboro and Charlottesville, on Thursday reported second-quarter earnings of $2.1 million, or 10 cents per share, down 36 percent from $3.3 million, or 15 cents, in the 1993 period. Net sales increased 8 percent, to $106.6 million from $98.6 million. Same-store sales fell 4 percent.
Net income for the six months was $8.5 million, or 39 cents per share, compared with $8.9 million, or 40 cents, for the 1993 period. Net sales increased 11 percent, to $226.3 million from $203.5 million. Same-store sales dropped 2 percent.
by CNB