Hancock narrows loss in second quarter

BALDWYN – Hancock Fabrics said it posted a quarterly net loss of $2.3 million, or 12 cents per share, compared to a net loss of $10.9 million, or 57 cents per share, in the second quarter of fiscal 2008.
While earnings were up in the second quarter, sales slipped. The craft and fabric retailer posted net sales of $59.6 million, compared to $63.8 million in the prior-year quarter. Comp-store sales were down 4.2 percent, compared with a 10.8 percent increase the previous year.

NEMS Daily Journal

Click video to hear audio