 |
| Very Enthusiastic CEO Marcy Syms |
Off-price retailer Syms Corp, operator of the Syms and Filene’s Basement stores, has swung to a first quarter profit, despite a drop in sales.
Net income in the three months to May 28 was $1.5 million or $0.10 per share, compared with a net loss of $800,000 or $0.06 per share, the year before. Net sales fell 13% to $105.4 million, from $121.4 million last time.
As of late May, the company operated 47 stores under the Syms and Filene’s Basement names.