MONTREAL – Le Chateau Inc. (TSX:CTU.A) reported lower second-quarter earnings, despite higher sales, as the fashion retailer shelled out more for promotional activities.
The retailer had second-quarter earnings of $1.1 million or four cents per diluted share, down from $1.3 million or five cents per share a year ago.
Sales for the quarter were $75.7 million, up from $72.5 million during the same quarter last year.
The clothing retailer said it saw an increase of $758,000 on marketing initiatives during the quarter.
Comparable store sales grew by 4.9 per cent.
Le Chateau has 231 retail locations across Canada.