GOTTSCHALKS LOSSES SMALLER IN 2ND PERIOD

FRESNO, Calif.--Citing improved same-store sales and controlled costs, Gottschalks Inc. narrowed its loss in the second quarter to $1.7 million from $2.4 million a year ago.
Sales in the quarter ended July 30 rose to $80.5 million from $76.2 million.
Joseph Levy, chairman and chief executive officer, attributed the reduced losses to higher same-store sales, cost containment and credit card programs. He added this has helped offset increasing interest costs and competitive pressure on gross margins.
Gottschalks operates 27 department stores and 23 specialty apparel stores in California, Washington and Oregon.
--Fairchild News Service

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