Right Start Reports Loss in 3rd Quarter
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Right Start Inc., the Westlake Village retailer of children’s products, posted a wider loss in its third quarter despite a 9% rise in revenues.
In the quarter that ended March 2, the company posted a loss of $873,000, compared to a $633,000 loss in the third quarter a year earlier. Revenues in the latest quarter rose to $9.95 million, up from $9.17 million a year earlier.
For the nine months, Right Start’s loss narrowed to $1.46 million, compared to a $2.01-million loss in the same period a year earlier, while its sales fell 14% to $30.46 million in the latest nine months, down from $35.46 million.
The company sells products for infants and young children through a catalog and retail stores. But the company has been struggling, and in the latest quarter its catalog business was unprofitable. There also was a $450,000 pretax charge as part of a settlement with its former chief executive officer who resigned.
Right Start has 17 retail stores and plans to open six more in the next few months.
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