Retailer's sales growth slows

Casual Male Retail Group Inc., which operates apparel stores for big and tall men, said fourth-quarter same-store sales rose 7.5 percent, but were slowed by sluggish holiday sales and mild weather.

Same-store sales, or sales at stores open at least a year, are a key gauge of retail performance.

Total sales for the 14-week period ended Feb. 3 rose 12.5 percent, to $145.8 million from $129.7 million, during the 13-week period ended Jan. 28, 2006, the Canton company said.

Chief executive David Levin said the same-store sales during the quarter fell short of the previous trend of 9.7 percent, but picked up in January as colder temperatures arrived.

Annual same-store sales increased 9 percent. Total sales over the 53-week fiscal year 2006 rose 10.9 percent to $467.4 million from $421.4 million in the 52 weeks of fiscal year 2005.

Casual male expects to report fourth-quarter profit of 19 to 21 cents per share, compared with earnings in the same period last year of 18 cents per share. Chief financial officer Dennis Hernreich said the company had higher expenses and softer sales than anticipated.
(AP)