Lower Sales Tug Clothestime Stock
ANAHEIM — Clothestime Inc.’s stock took a beating on Wall Street after the company announced Thursday that its sales last month were down 22% from January, 1994.
The price of Clothestime’s stock fell 19.5%, or 75 cents a share, to close at $3.125 in Nasdaq trading.
The Anaheim owner and operator of a chain of young women’s clothing stores said that sales at outlets open a year or more were off 27% for the four weeks that ended Jan. 28. Total sales for the month fell 22% to $17.1 million.
The company did not return calls seeking comment.
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