Retail ventures slashes losses

Hogsett, Don
June 2004
Home Textiles Today;6/14/2004, Vol. 25 Issue 40, p28
Trade Publication
Building sales, boosting margins and whittling interest expense; Retail Ventures Inc., parent of Value City Department Stores Inc. and Filene's Basement Corp., edged its way towards a turnaround. The company pared its first quarter loss almost 90 percent, to $1.5 million from $13.2 million last year. Sales at the diversified retailer increased 9.8 percent, to $646.3 million from $588.5 million, largely on the strength of sharply improved same-store sales at its Filene's Basement and DSW Shoe Warehouse operations, up 15.8 percent and 10.6 percent respectively.


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