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Carter Hawley’s Second-Quarter Losses Decline : Retail: The Broadway’s parent lost $14.6 million, compared to $35.3 million in the year-ago period.

TIMES STAFF WRITER

Carter Hawley Hale, operator of the Broadway and other department stores in the West, said Friday that its second-quarter losses declined compared to the same period last year--despite a modest decrease in sales.

The Los Angeles-based retailer said it had a second-quarter loss of $14.6 million, compared to a loss of $35.3 million during the same period last year. The company took a charge of $16.9 million for costs relating to the early retirement of some debt during the second quarter of last year.

Carter Hawley filed for protection from creditors under bankruptcy laws Feb. 11, largely because it was unable to get further bank credit because of heavy debt and weak retail sales nationwide.

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The company’s sales for the quarter were $481.3 million, a decrease of 2.9% from the $495.9 million reported in the same period last year. Same-store sales decreased 2.2% for the period; the most accurate gauge of a company’s performance, same-store sales track those outlets that have been operating at least 12 months. The company closed two stores since the prior-year period.

The net loss for the six months ended Aug. 1, 1992, was $35.0 million, compared to a net loss of $97.7 million in the first six months of 1991.

Sales for the six-month period were $915.0 million, a decrease of 1.2% from the $926.0 million reported in the same period last year. Same-store sales decreased 0.5% for the period.

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The quarterly report was released one day after the company announced that its creditors and shareholders have approved its Chapter 11 bankruptcy reorganization plan by overwhelming margins.

In all, 98.1% of the unsecured creditors--those who have no collateral guarantees from Carter Hawley--approved the plan. All four of the retailer’s secured creditors also voted in favor of the plan. A hearing on the reorganization plan will be held Monday in U.S. Bankruptcy Court in Los Angeles.

Carter Hawley Hale Stores Inc. operates 87 stores under the names of The Broadway, The Broadway Southwest, Emporium and Weinstocks.

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