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Perfumania continues slide in Q4; eyes store closures
After a difficult third quarter of fiscal 2016, Perfumania Holdings Inc. continued experiencing problems in the year’s fourth quarter.
The specialty chain is considering closing an unspecified number of underperforming stores after reporting net income of $2.26 million, down 59% from $5.5 million a year earlier. Lower gross profit and operating income helped slash profit.
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Rising expenses take toll on Tuesday Morning in Q3
Rising expenses resulted in an increased net loss at Tuesday Morning Corp. during the third quarter of fiscal 2016, despite positive sales results.
Dallas-based Tuesday Morning reported a net loss of $5.24 million, close to double the $2.8 million loss it posted during the third quarter of the previous fiscal year. On the plus side, net sales rose 11% to $211.38 million from $189.73 million. Same-store sales grew 13.4%, largely driven by an increase in customer transactions.