BALDWYN, Miss. -- Hancock Fabrics posted slightly higher sales in its just-completed fiscal second quarter, but the fabrics and crafts retailer also recorded a bigger loss for the period.
The Baldwyn-based company reported net sales of $59.3 million for the quarter ended July 26, as comparable store sales - sales at stores open for at least a year, a key retail industry metric - increased 0.9 percent.
But its quarterly loss also widened, from $2.6 million, or 13 cents a share in the second quarter a year ago, to $3.3 million, or 16 cents per share, this year.
The Northeast Mississippi Daily Journal reports (http://bit.ly/WMNJ45 ) the company's operating loss in the second quarter also increased from $1.3 million to $1.9 million, primarily driven by health benefits-related costs and professional fees.
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