Net sales for the third quarter were $114.4 million, down 10.4% from the third quarter a year ago. Same-store sales for the quarter decreased 11.2%, compared to a decrease of 23.5% in the prior year. Gross margin as a percentage of net sales increased to 38.8% in the third quarter of fiscal 2010, the company said, primarily due to lower markdowns and other costs including inventory shrink and damages.
Net loss for the third quarter was $5.47 million, compared to $5 million in the prior year period. Net loss for the year so far stood at $7.2 million, compared to net income of $13 million for the first three quarters of last year.
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