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Earnings

ClothesTime Reports Net of $4.5 Million for Quarter

August 20, 1986

ClothesTime Inc., an Anaheim-based operator of women's discount apparel stores, said net income for its fiscal second quarter was $4.5 million, up 16% from $3.8 million.

Revenue for the quarter ended July 27 also increased 16%, to $41.4 million from $35.6 million.

For the first half of its fiscal year, net income was $6.3 million, up 20.5% from $5.2 million. Revenue was $72.6 million, up 14.8% from $63.2 million.

Michael P. DeAngelo, ClothesTime's chairman and chief executive, said he is optimistic about the third quarter, primarily because of the company's fall fashions and the accompanying promotion campaign.

ClothesTime operates 250 stores in 12 states.

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