Tweeter Has Tough 4Q, Year

Canton, Mass., Tweeter Home Entertainment Group narrowed its net loss to $10.3 million from $12.6 million in its fourth quarter ended Sept. 30. Total revenues were down 3.1% to $175.9 million, as comp-store sales sank 3.5%.

For the fiscal year, Tweeter’s net loss widened to $18.2 million from $11.7 million the year before. Sales were up 0.1% to $778.2 million, despite a 1% decline in same-store sales.

The company said its results were impacted by hurricanes, which disrupted store operations across the Southeast, and the discontinuation of the retailer’s Bang & Olufsen stores.

Recommended stories

Login or Register to post a comment.