Mothers Work Lowers 4Q

Philadelphia Mothers Work Inc. said Tuesday that its fiscal fourth-quarter loss narrowed, helped by efforts to reduce inventory, lower debt and control costs.

The maternity-apparel retailer also said it plans to prepay $10 million of a term loan before the fiscal first-quarter's end as it works to de-leverage its balance sheet.

Mothers Work reported a loss of $4.8 million compared with a loss of $5.4 million a year ago.

Revenue for the period ended Sept. 30 slipped 4% to $130.5 million from $135.8 million. Quarterly same-store sales rose 2.8%.

Annual sales declined 3% to $564.6 million from $581.4 million.

Full-year same-store sales edged up 0.2%.