After a larger-than-expected second-quarter loss, Tween Brands Inc. will convert 560 Limited Too stores to its more value-oriented Justice nameplate by May, expanding to more than 900 stores.
The move comes after a dismal quarter. The four-year-old New Albany, Ohio-based specialty retailer, which caters to girls ages seven to 14, posted a net loss of $6.7 million, or 27 cents a diluted share, against analyst expectations of a loss of 1 cent. In the year-ago period, Tween earned $2.1 million, or 7 cents a share. Sales rose 4.4 percent to $223.1 million, but fell 8 percent on a comparable-store basis.
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