RTW Retailwinds, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended February 2, 2019; Provides Earnings Guidance for the First Quarter and First Half of 2019; Reports Impairment Charges for Weeks Ended February 2, 2019
For the year, the company reported net sales of $893,224,000 against $926,868,000 a year ago. Operating income was $6,471,000 against $6,928,000 a year ago. Net income was $4,230,000 or $against $5,675,000 a year ago. Basic earnings per share was $0.07 against $0.09 a year ago. Diluted earnings per share was $0.06 against $0.09 a year ago.
For the thirteen weeks ended, the company reported impairment charges of $1,112,000 against $386,000 a year ago.
For the Spring season, combined first and second quarter of fiscal year 2019, the company expects comparable store sales to decrease in the low single-digit percentage range. The company expects GAAP operating income to be in the range of breakeven to a profit of $2 million, with losses in the first quarter offset by profitability in the second quarter.
For the first quarter, net sales are expected to decrease in the high single-digit range, reflecting the reduced store count, combined with reductions in comparable store sales in the mid single-digit percentage range.