NEW YORK — Sagging sales, promotional pressures and special charges conspired to drive United Retail Group Inc. out of the catalog business as its fourth-quarter losses grew to plus-size proportions.
For the three months ended Feb. 1, the Rochelle Park, N.J.-based specialty retailer of plus-size women’s apparel reported a net loss of $16.1 million, or $1.24 a diluted share. That compares with last year’s smaller loss of $624,000, or 5 cents. Excluding a pretax, noncash charge of $5.6 million for goodwill impairment, as well as a deferred tax asset valuation allowance that increased its tax provision by $7.3 million, the company would have recorded a more modest loss of $3.2 million, or 25 cents.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"