Syms loss widens in Q2 with impact of Filene’s acquisition
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Syms Corp. reported late Thursday that it lost $10.9 million in the quarter ended Aug. 28, compared with a loss of $7.9 million in the year-ago period. The widened loss is mostly attributable to one-time charges related to Syms’ acquisition of Filene’s Basement in second quarter 2009, according to the company. Revenues for the quarter surged 34% to $102.1 million, from $76.4 million in the prior-year quarter, reflecting the impact of Filene's Basement.Same-store sales increased 16% for the quarter.