Rex Fiscal Q2 Sales Flat, Comps Off 8%

Staff On Sep 3 2001 - 6:00am

Net sales at Rex Stores were relatively flat during the fiscal second quarter, reaching $99.9 million, compared with $101.6 million in the same three months last year. Comp-store sales for the period fell 8 percent.

Net income comparisons for the quarter also were virtually a wash, with the second quarter net ended July 31 hitting $3.87 million, compared with a $3.98 million net in the year-ago period.

For the six months, Rex net sales dropped a bit over 2 percent, from $208.8 million in the first half of last year, down to $204 million in the comparable period this year. Comp-store sales for the first half fell 11 percent.

Net income for the six months reached $7 million, down from $7.2 million in the year-ago first half.