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Gordman’s Stores swings to profit in Q1
Omaha, Neb. – Gordman’s Stores Inc. swung to net income of $400,000 in the first quarter of fiscal 2015 from net loss of $700,000 in the same period the prior year. Improved control of store, corporate and insurance expenses, as well the paydown of a loan, helped push Gordman’s into the black.
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Traffic woes still hurting Ann Inc.
Just days after it agreed to sell itself to Ascena Retail Group for $2.2 billion, Ann Inc. posted another mixed financial report.
For the first quarter ended May 2, same-store sales declined 1.5% overall at Ann Inc., as Ann Taylor brand sales fell 3% and Loft brand sales were down 0.6%. The company reported a profit of $13.6 million, or 29 cents a share, up from $5.2 million, or 11 cents a share, a year ago.
