The
Sales at stores open at least a year, a key indicator of a retailer's health, fell 26%.
Interim CEO
“Although still very early, we are seeing signs of continued progress as merchandising and inventory changes begin," she said.
The company is looking to cut costs by about
The actions come about a month after
The retailer also announced at the time that it would revert to its original strategy of focusing on national brands, instead of pushing its own store labels.
Losses, adjusted for asset impairment costs and restructuring costs, were
Analysts polled by
The company still anticipates a fiscal full-year comparable sales decline in the 20% range.
Shares fell 3.4% in early trading as the broader markets declined.
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