ASAP fashion news archive - apparel industry news from before September 2005
This page is part of the ASAP fashion news archive on Apparel Search, which collected apparel, fashion and textile industry news from before September 2005. For current coverage, see the Apparel Search news page and the fashion blog.
From: ASAP
Gadzooks, Inc. (Nasdaq: GADZ) today reported a net loss of $7.9 million for the second quarter ended August 2, 2003 as the Company continues its transition to a juniors-only store. The Company recorded net income of $115,000 for the second quarter of fiscal 2002. On a diluted basis, the Company reported a net loss per share of $0.86 for the quarter compared to net income of $0.01 per share for the corresponding period a year ago. Net sales for the quarter decreased 10.7 percent to $68.5 million from $76.7 million a year ago. Same store sales for the quarter declined 9.9 percent compared to a 3.3 percent decrease for the second quarter of last year. The Company reported a year-to-date net loss of $12.0 million compared to net income of $1.9 million for the first half of fiscal 2002. On a diluted basis for the year-to-date period, the Company reported a net loss per share of $1.31 compared to net income of $0.20 per share for the same period last year. Year-to-date net sales decreased 10.2 percent to $139.2 million from $155.0 million for the comparable fiscal 2002 period. Same store sales decreased 10.3 percent for the first half of fiscal 2003 versus a 2.8 percent decline for the first half of the prior year.