Retailer Barely Makes a Profit
Gottschalks Inc., the small departmentstore chain based in Fresno, Calif., reported that its net income for the second quarter of 2003 was $25,000, a major improvement over last year, when the company posted a $2.1 million net loss during the same period.
During the 13 weeks that ended Aug. 2, same-store sales were 0.4 percent higher than during the same period last year. Total sales in August decreased 2.5 percent to $152 million, compared with $155.9 million during the same period in 2002.
—Deborah Belgum
