House of Fabrics Loses $119,000 in 2nd Quarter
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House of Fabrics, a Sherman Oaks-based chain of fabric and sewing stores, lost $119,000 in its fiscal second quarter that ended July 31, contrasted with a $454,000 profit a year earlier.
The company’s sales rose 13% to $81.3 million from $72 million. But House of Fabrics, which operates 644 stores, said the sales growth was not as strong as it had hoped in light of the company’s increased use of advertising and promotions during the quarter.
For the first half of its fiscal year, House of Fabrics’ profit fell 50%, to $1.22 million from $2.46 million. Its six-month sales rose 9% to $160.8 million from $147 million.
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