Hancock Fabrics, Inc. (HKFI: Quote) Friday said its first-quarter loss widened to $2.4 million or $0.12 per share from $2.2 million or $0.11 per share in the year-ago quarter. Loss widened mainly on lower margins.
First-quarter revenues increased 3.5 percent to $63.9 million from $62.0 million last year. Comparable store sales increased 3.5 percent year-over-year.
Point of sale gross margin declined 70 basis points from last year.
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by RTT Staff Writer
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