Article: Dylex loses $3.5 mil in six months. (Canadian retailer)

DYLEX LOSES $3.5 MIL IN SIX MONTHS

TORONTO (FNS) -- Dylex Limited, mired in a struggling Canadian retail environment, reported a loss of $4,058,000 (U.S. $3,489,880) for the six months ended Aug. 4, despite a $14.8 million (U.S. $12.7 million) gain from the public offering of 28 percent of its Wet Seal, an indirect subsidiary.

The year-ago loss amounted to $11,561,000 (U.S. $9,942,460), but included losses of $12,271,000 (U.S. $10,553,060) from Dylex's discontinued Foxmoor chain. Results in 1989 were restated to exclude discontinued operations from consolidated results.

Sales in the six ...

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