The Hingham, Mass.-based retailer says net income for the quarter came in at $7.4 million compared to last year's adjusted loss from continuing operations of $123.4 million. And while sales slipped 3.7% to $315.9 million, compared to $327.9 million last year, it says markdown selling declined 21% while sales of full-price items rose 10%.
On a comparable-store basis, sales dropped 7.2% in the quarter, although January sales were up. --Sarah Mahoney