Big and tall men’s apparel retailer Casual Male saw profits grow in the first half despite a decline in total sales.
The company’s gross margin increased 180 basis points to 46.4% during the quarter.
David Levin, CEO of Casual Male, said: “We are pleased with our results for the second quarter and continuing progress toward our immediate initiatives to expand operating margin and drive free cash flow. In the quarter, strong inventory control as well as lower occupancy and merchandise costs combined to drive a 180 basis point improvement in gross margin.
“At the same time, we continued to see a slow but steady improvement in sales – as comparable sales trends flattened in the quarter.”
Click here to view the company’s full financial statement.
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