RTW Retailwinds, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended May 4, 2019; Provides Earnings Guidance for the Second Quarter of Fiscal Year 2019; Announces Impairment Charges for the First Quarter Ended May 4, 2019
The company provided earnings guidance for the second quarter of fiscal year 2019. For the quarter, the company expects net sales to decrease in the low single-digit percentage range, reflecting the combination of reduced store count, and comparable store sales which are expected to be down slightly. Operating income is expected to be approximately breakeven, which includes approximately $1.5 million of losses associated with the three new businesses.
The company reported loss from impairment charges of $82,000 for the first quarter ended May 4, 2019.