The retailer on Thursday said Q2 same-store sales fell 10.5%, compared to a 2.5% decline a year ago, as store traffic improvements were inconsistent and inadequate over the holiday period. For the six months ended Jan. 2, same-store sales decreased 7.4%.
Q2 net sales were $101.9 million, a decrease of 16.8% from $122.4 million in the same period last year. Gross margin as a percentage of net sales edged up to 34.4% compared to 34.0% last year, thanks to a reduction in markdowns and promotions. . . . more