Retail & wholesale growths perk up Kuhlman's Q2 sales
16 Aug '05
4 min read
Men's and women's apparel seller Kuhlman Company Inc reported it's fiscal second quarter results. Sales for the quarter, driven by four new stores increased 38.0% to $1.3 million versus $965,000 in the year-ago quarter. The Company's reported loss per diluted share was $(0.08) on 15.0 million shares outstanding versus a loss per diluted share of $(0.06) on 6.3 million shares outstanding in the prior year's second quarter.
Scott Kuhlman, Chief Executive Officer (CEO), stated, "they are very pleased with the progress they made during the second quarter. They saw a continued strong performance from both new and existing stores, which they believe validates their operating model."
Just prior and post the closing of the quarter, they closed two successful rounds of private financing, through which they raised $9.7 million and properly capitalized the business for its next growth phase. These securities sold were not registered under the Securities Act of 1933 and may not be offered or sold absent registration or an applicable exemption from the registration requirements.
They are looking forward to an acceleration of their store opening schedule and leveraging the investments they have made in their infrastructure to reach profitability as company expand.
During the quarter, the Company opened new stores in Rockefeller Center in New York City, the Citicorp Center in Chicago, the West Village in New York City, and in One Pacific Place in Omaha, Nebraska.
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