Eddie Bauer's 1Q Loss More Than Doubles

SEATTLE (AP) — Outdoorsy clothing retailer Eddie Bauer Holdings Inc. said Thursday its loss more than doubled in the first quarter as shoppers continued to curb spending and it recorded a hefty charge to amend loan terms.

For the three months ended April 4, the company lost $44.5 million, or $1.44 per share. That compared with losses of $19.3 million, or 63 cents per share, in the year-ago period.

The Bellevue, Wash.-based company said the wider loss was due primarily to one-time charges; a $10.3 million charge for amending its senior term loan and a lower income tax benefit of $11 million.

Quarterly revenue fell to $179.8 million from $213.2 million in the first quarter of 2008.

Thomson Reuters did not provide analyst estimates on first-quarter performance.

"The first quarter was a difficult one, as the sharp downturn in the economy took its toll on our sales. We continued to focus on cost cutting and cash flow management, which helped mitigate the impact of lower sales," said Neil Fiske, president and chief executive, in a statement.