From: ASAP
Barneys New York, Inc. announced results for the third quarter and nine months ended November 3, 2001 and the amendment of its credit facility with its senior lenders, led by Citibank, N.A. For the three months ended November 3, 2001, net sales declined 18.9% to $89.4 million from $110.2 million in the quarter ended October 28, 2000. Comparable store sales declined 19.6%. Earnings before interest, taxes, depreciation and amortization (EBITDA) was ($1.0) million compared to $10.9 million for the same period a year ago. Net loss and loss per share were $8.4 million and 61 cents compared with net income of $3.3 million and 24 cents in the corresponding period last year. For the nine months ended November 3, 2001, net sales decreased 7.7% to $268.6 million from $291.1 million in the year ago period. Comparable store sales declined 9.2%. EBITDA was $6.8 million compared to $21.1 million for the same period a year ago. Net loss and loss per share were $15.6 million and $1.12 compared with a net loss of $1.2 million and 9 cents in the year ago period.
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