Net Loss Widens at Casual Male

Canton, MA-based cataloger/retailer Casual Male Retail Group (Nasdaq: CMRG), whose brands include Casual Male Big & Tall, Rochester Big & Tall, and the George Foreman clothing collection, blamed higher operating expenses for its disappointing results. Higher retail occupancy costs also pressured Casual Male’s gross margins during the third quarter.

The company’s net loss widened to $1.4 million for the quarter ended Oct. 30, compared with $1.2 million net loss last year. Sales slid 4% to $93.9 million, compared with $97.9 million last year. Operating expenses also rose from “professional fees” for Sarbanes-Oxley compliance as well as start-up losses from opening Casual Male stores at Sears-Canada.

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