Hancock Fabric sees losses beginning to narrow
Published: June 22,2009
BALDWYN — During the first quarter of 2009, Hancock Fabrics posted a net loss of $900,000, or $0.05 per share, compared to a net loss of $5.3 million, or $0.28 per share, during the first quarter of 2008.
At the same time, the company saw net sales of $64.1 million, compared with $63.8 million during the comparable period last year, and comparable sales increased 2.3 percent during the most recent quarter, compared with 3.1 percent during the first quarter the prior year.
Hancock president and CEO Jane Aggers said, “Although the retail environment is still challenging, we continue to make progress on our key operating initiatives — improving operations and reducing debt. Our efforts have resulted in the significant increase in EBITDA (up $2.8 million over the first quarter of 2008) and the narrowing of our loss.”
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- Brandon man hauls in record 756-pound alligator
- Is cotton looking too good? Farmers facing weaker prices
- Woman found guilty of murder in buttocks injection case
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Mississippi judge dismisses lawsuit seeking to overturn Sen. Cochran's GOP primary win
- Healthcare Marketplace to look much the same in 2015