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Clothestime Inc. Predicts 'Sharply Lower' Earnings

October 20, 1987

Clothestime Inc., an Anaheim-based women's discount clothing chain, said it expects to report "sharply lower" third-quarter earnings but slightly higher sales for the period.

The company would not provide a specific earnings estimate, but in the third quarter a year ago, Clothestime reported earnings of $3.9 million.

Third-quarter sales should increase about 7% from the $45.5 million a year earlier, the company said.

The company attributed the small increase in sales to a "general slowdown" for junior apparel and "unusually hot weather" on the West Coast, where the 316-store clothing chain has many stores and was promoting fall and winter "back-to-school" apparel during the heat wave.

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