Earnings
Rex Stores 2Q Profit Falls 31 Percent
DAYTON, Ohio (AP) — Rex Stores Corp. said Wednesday its second-quarter profit fell 31 percent in a quarter when it closed its remaining company-owned retail stores.
Dayton, Ohio-based Rex, formerly a consumer electronics retailer that has become an investor in alternative energy initiatives, earned $837,000, or 9 cents per share, in the three months that ended July 31. That is down from the $1.2 million, or 11 cents per share, a year earlier. Revenue fell 49 percent to $21.5 million from $42.1 million. Rex has leased 18 stores to a third party.TheStreet Premium Services
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