Casual Male 2Q Profit Nearly Doubles

CANTON, Mass. (AP) — Casual Male Retail Group Inc. said Tuesday its fiscal second-quarter profit nearly doubled as significant cost cuts offset a drop in sales.

For the quarter ended Aug. 1, Casual Male earned $3.6 million, or 9 cents per share, up from $1.9 million, or 5 cents per share, in the year-ago period.

Sales dropped 13 percent to $98.3 million from $113.5 million. Same-store sales — or sales at stores open at least a year — dropped 13.9 percent, as retail and direct channels both posted declines.

Total expenses fell 17 percent to $39.5 million.

The company also said that it expects its 2009 sales to be down 10 percent to 12 percent from the year before.