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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)