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Q1 net income drops at Canton-based men's clothing firm
21
May '12
Casual Male Retail Group Inc. the largest retailer of big & tall men's apparel and accessories reported operating results for the first quarter of fiscal 2012.

First Quarter Results

Sales
For the first quarter of fiscal 2012, total sales of $95.9 million increased $0.1 million from $95.8 million for the first quarter of fiscal 2011. Comparable sales for the first quarter increased 2.0% when compared to the same period of the prior year. On a comparable basis, sales from the retail business increased 3.8% while the U.S. direct business decreased 3.9%.

The increase in the retail business of 3.8% was the result of positive sales among all store formats, specifically the Company's DXL stores and Casual Male XL retail stores. While store traffic for the first quarter of fiscal 2012 was down approximately 1.6% as compared to the first quarter of fiscal 2011, it was an improvement over the fourth quarter of fiscal 2011 which was down 3.7%. Increases in "dollars per customers" and "average unit retail" contributed to the increase in comparable sales for the quarter.

Sales from the Company's direct business were negatively impacted during the first quarter of fiscal 2012 by the poor performance in March 2012 of its new format catalog contributing to an approximate $1.5 million loss of sales, or approximately 9% in direct sales for the first quarter.

The catalog was the first of its kind and was intended to replace the Company's legacy catalogs. The Company plans to re-launch a redesigned catalog in early fall and will continue with its plans to shift a greater penetration of its marketing spend to digital marketing.

In April 2012, the Company returned to its traditional catalog format of Casual Male XL, B&T Factory Direct, and Rochester Big & Tall, as well as increased its digital marketing efforts and intensified its e-mail campaigning, and performance of its direct channel increased 4.6% for April 2012 as compared to April 2011.

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Casual Male Retail Group Inc


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