Key Developments For Casual Male Retail Group, Inc.
Casual Male Retail Group, Inc. (CMRG.O) (Nasdaq)
Casual Male Retail Group, Inc. Raises High End Of Prior FY 2009 Revenue Outlook; Comments On Q4 2009 Revenue Outlook
Casual Male Retail Group, Inc. revised its fiscal 2009 outlook and expects sales to be approximately 11%-12% less than last year, as compared to the range of 10%-12% that it previously disclosed. For fourth quarter of 2009, it is cautious about sales trends. The Company reported revenues of $444 million in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report revenues of $110 million for fourth quarter of 2009.
Casual Male Retail Group, Inc. Announces Sale of Equity Securities
Casual Male Retail Group, Inc. announced that it has agreed to sell 4,950,000 shares of common stock to certain institutional investors. Casual Male has entered into definitive agreements to sell the shares of its common stock through a registered direct offering at a price of $2.75 per share for gross proceeds of approximately $13.6 million. The Company intends to use the net proceeds of approximately $12.6 million from this offering for general corporate purposes, including the repayment of indebtedness. The closing of the offering is expected to take place on or about September 3, 2009.
Casual Male Retail Group, Inc. Reaffirms FY 2009 Revenue Outlook
Casual Male Retail Group, Inc. announced that for fiscal 2009, the guidance remains unchanged. The Company expects fiscal 2009 sales to be approximately 10%-12% less than last year. The Company reported revenue of $444.18 million in fiscal 2008.
Casual Male Retail Group, Inc. Reaffirms FY 2009 Revenue Guidance
Casual Male Retail Group, Inc. announced that due the continued uncertainty in the economy, it continue to expect sales for fiscal 2009 to be approximately 10% less than last year. The Company reported revenue of $444.18 million for fiscal 2008.
Card Activation Technologies Inc Settles Litigation Against Casual Male Retail Group, Inc.
Card Activation Technologies Inc announced that it has settled its lawsuits against Casual Male Retail Group, Inc. and against Pot Belly Sandwich Works, LLC. The terms of both settlements are confidential.
