Frederick's of Hollywood has reported a higher net loss in the fourth quarter of fiscal 2008. Net loss was recorded at $7,191,000, compared to a net loss of $2,571,000 for fourth quarter of fiscal 2007.

"As the macroeconomic environment continues to present challenges to both our retail and wholesale divisions, our efforts are focused on reducing operating expenses," said Peter Cole, executive chairman of the company.

"Some cost saving initiatives that we have taken and are continuing to take include a reduction in personnel through the elimination of executive and support functions, the decreased use of outside consulting services, the consolidation of insurance and employee benefits, and the continued transition of manufacturing support functions to our facility in the Philippines."

Net sales for the fiscal 2008 fourth quarter increased 28.2 percent to $42,093,000 from $32,829,000 for the same time period last year. Net sales for the full year increased 17.4 percent to $182,233,000 from $155,238,000 in fiscal 2007.

Published 10-28-2008 by Libby Dowd

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