RTW Retailwinds Q4 comparable sales down 7.4 percent, names new CEO

Fourth quarter net sales at RTW Retailwinds, Inc. were 224 million dollars compared to 247.3 million dollars in the prior year, reflecting a 7.4 percent reduction in comparable store sales, and a reduction in store count. Gross profit as a percentage of net sales decreased 460 basis points to 24.2 percent. GAAP operating loss for the fourth quarter was 39.8 million dollars, while non-GAAP operating loss was 19 million dollars, which compares to the prior year’s non-GAAP operating income of 0.1 million dollars.