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Article: Casual Male stock up 41 percent
- Article from:
- The Patriot Ledger Quincy, MA
- Article date:
- August 26, 2009
CopyrightCopyright 2009 The Patriot Ledger Quincy, MA. Provided by ProQuest LLC. (Hide copyright information)
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BUSINESS IN BRIEF
Casual Male stock up 41 percent
CANTON - Casual Male Retail Group's stock price soared by 41.6
percent on Tuesday after it reported a near-doubling of its
quarterly profit.
The Canton-based retailer saw sales drop by 13.4 percent in the
second quarter, compared with the same time a year ago, to $98.3
million for the most recent quarter. But the company reported a net
income of $3.6 million - a nearly 90 percent increase from the $1.9
million reported a year ago - as the company realigned its inventory
levels and reduced expenses.
Casual Male's stock price rose by 91 cents a share to close at
$3.10 a share in Tuesday's trading.
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