MERRY-GO-ROUND LOSS WIDENS TO $19.2M IN QUARTER
NEW YORK — Merry-Go-Round Enterprises Inc., which has closed hundreds of unprofitable stores as it reorganizes under Chapter 11, reported a loss of $19.2 million in the third quarter ended Oct. 28.
In the year-ago quarter, the Joppa, Md.-based specialty retailer lost $10.3 million. Sales, reflecting the store closings, dropped 22.9 percent to $154.9 million from $199.1 million.
For the nine months, the chain narrowed its loss to $66.4 million from $72.3 million. Revenues fell 26.2 percent to $401.7 million from $544.1 million. MGR filed for Chapter 11 in January 1994.