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.
Top Posts & Pages
- The Dan Jones-IHL saga: Is this the story that started it all?
- Dan Jones rejects IHL offer, won't publicly apologize
- Email from Nash to Delta Council’s Morgan included in DHA court file
- BREAKING NEWS: Trustees offer new deal to Ole Miss chancellor Dan Jones
- Suit against Kemper employee Brett Wingo is dismissed
- Ole Miss chancellor: Talks continue over job status
- DAVID DALLAS — From Dan and Dixie with love
- Delta Health Alliance CEO Karen Fox under investigation for possible misuse of funds
- Law to bolster utilities’ economic development efforts gets mixed reactions