Rex stores income up, sales down

DAYTON, Ohio Rex Stores today reported that net income of $5.8 million, or 48 cents per share, for its second quarter ended July 31, compared with net income of $1.5 million, or 13 cents per diluted share, in the second quarter of fiscal 2006.

Despite reporting a gain in net income for the 2007 second quarter, Rex Stores saw net sales and comps fall. The company reported that net sales and revenue in the fiscal 2007 second quarter were $56.3 million compared with $63.6 million in the fiscal 2006 second quarter. Comparable-store sales for the quarter declined 12%.