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Article Excerpt
Second Quarter Fiscal 2009 EPS $0.09 versus $0.05 last year
CANTON, Mass., Aug. 25 /PRNewswire-FirstCall/ -- Casual Male Retail Group, Inc. , retail brand operator of Casual Male XL, Rochester Clothing, B&T Factory Direct, Living XL and Shoes XL, announced today its sales and operating results for the second quarter and first six months of fiscal 2009.
For the second quarter of fiscal 2009, net income was $3.6 million, or $0.09 per diluted share, compared to net income for the second quarter of fiscal 2008 of $1.9 million, or $0.05 per diluted share. Sales for the second quarter of fiscal 2009 decreased in total by 13.4%, and by 13.9% on a comparable basis, to $98.3 million from $113.5 million for the second quarter of fiscal 2008.
For the first six months of fiscal 2009, net income was $4.0 million, or $0.10 per diluted share, as compared to net income of $2.0 million, or $0.05 per diluted share for the first six months of fiscal 2008. Sales for the first six months of fiscal 2009 decreased in total by 11.4%, and by 12.3% on a comparable basis, to $195.8 million from $221.1 million for the first six months of fiscal 2008.
David Levin, President and CEO, stated, "The Company's profitability in the second quarter is directly attributable to the proactive retooling of our business, which has improved productivity, free cash flow and liquidity in this difficult macroeconomic and consumer environment. We are pleased with the operating margins and free cash flow given the realities of a lower top line. Our positioning allows us to focus on strategies which will allow Casual Male to increase market share."
Dennis Hernreich, EVP and COO/CFO, added, "The Company's realignment of its inventory levels, SG&A expenses, and infrastructure costs aided in...
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