Loehmanns (LOEH) Message Board

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Non-Tech : Loehmanns (LOEH)

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To: Ram Seetharaman who wrote (54)	3/13/1999 12:10:00 PM
From: Steve Hudson	of 69

BTW, the PR release from LOEH was somewhat intriguing and puzzling. The comp store sales of up over 8% for December was excellent, and even the comp store sales for Q4 of over 4% was very good. The decrease in gross margins means the buyers had merchandise that wasn't moving at first and they marked it down rapidly. I think they still may not have caught on to the "softer" lines professional women buy now: compare this to ANN's same mistake and its subsequent correction. Lastly, there was an unexplained, substantial rise in expenses in Q4 that is very puzzling. If it was for Y2K or development of e-commerce, then they should break it out and say so. In any case, I would really like to know what happened there because that was the chief culprit for the extent of the dismal news. Steve

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