Syms Corp Posts Results for 4Q and Fiscal Year

Tue. April 28, 2009; Posted: 04:09 PM

Apr 27, 2009 (Close-Up Media via COMTEX) -- SYMS | Quote | Chart | News | PowerRating -- Syms Corp, an off-price retailer, announced results for its fourth quarter and fiscal year ended February 28.

In a release on April 23, the company noted that its net loss for the fiscal quarter ended February 28, was $(1.9 million) or $(0.13) per share as compared to a net income of $0.3 million or $0.02 per share for the fiscal quarter ended March 1, 2008. The Company had a net loss for the fiscal year ended February 28, of $(3.4 million) or $(0.23) per share as compared to net income of $8 million or $0.06 per share for the fiscal year ended March 1, 2008.

Net sales for the fiscal quarter ended February 28, were $54.1 million compared to $68.6 million for the fiscal quarter ended March 1, 2008, a decline of $14.5 million or 21.2 percent. Net sales for the fiscal year ended February 28, were $242.0 million compared to $267.1 million, a decline of $25.1 million or 9.4 percent. Comparable store sales declined 19.7 percent for the fiscal quarter and 7.9 percent for the fiscal year ended February 28.

Syms Corp currently operates a chain of 32 "off-price" apparel stores located throughout the Northeastern and Middle Atlantic regions and in the Midwest, Southeast and Southwest.

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