DYLEX SHOWS PROFIT
By Adnews Staff
Dylex Ltd. of Toronto has reported its third consecutive quarter of earnings growth, just months after undergoing a major restructuring when it was pulled from the brink of bankruptcy. The fashion retailer had a net profit of $3 million for the period ending Oct. 28. This compares with a net loss of $110.2 million the same period last year. Sales for the quarter were down from $435.7 million to $316.1 million, reflecting a slimmed down organization. For the nine months, Dylex had a net loss of $4.5 million, compared with a loss of $131.9 million in 1994. Sales were $881.9 million, down from $1.2 billion. Dylex operates 718 stores under the names BiWay, Club Monaco, Fairweather and Tip Top Tailors.
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