Income Slips at Casual Male Despite Higher Sales
CANTON, Mass. – Big and tall retailer Casual Male Retail Group is reporting a 26 percent drop in second quarter income, from$3.4 million (nine cents per share) last year to $2.5 million (six cents per share). Sales are higher though – up 2.2 percent over the second quarter last year to $114.2 million. Same store sales are up 3.9 percent.
Second quarter numbers were affected by legal expenses, one cent per share, which will result in a settlement of $1.5 million, not counting interest. The settlement has not been paid yet. Casual Male took former employee Robert Yarbrough and Westport Big and Tall to court over a violation of a non-compete clause.
Casual Male operates 473 Casual Male XL stores and 25 Rochester Big & Tall Stores in the U.S., Canada and London, England.
