Cosmetic & Fragrance Concepts Inc., the Savage, Md.-based company that runs the Cosmetic Center specialty chain, had a 14 percent increase in earnings for the first quarter compared with the same period last year. Sales for the quarter, which ended Dec. 28, were up 12 percent.
The company, which sells discounted cosmetics, fragrances and other health and beauty aids, earned $1 million (32 cents a share) in the quarter, compared with $881,000 (28 cents) a year earlier. Sales were $27.8 million, up from $24.8 million a year earlier.
Company officials also said stockholders will be asked to vote on a proposal to change the name of the company from Cosmetic & Fragrance Concepts Inc. to the Cosmetic Center Inc. at the annual meeting of stockholders on Feb. 15. Executives said they believed the change would be beneficial considering the name recognition developed by the retail stores.
Vie de France Corp., the McLean-based bakery and restaurant company, lost $6 million in the quarter ended Dec. 15.
Much of the loss in the quarter, the second of the company's fiscal year, can be attributed to a previously announced $4.5 million reserve established to pay for the cost of closing at least 12 of its restaurants. In the comparable quarter a year earlier, the company lost $190,795.
Vie de France's revenue in the quarter fell 4.5 percent to $23 million from $24.1 million a year earlier. The company blamed the weak economy for lower holiday-period sales at both its restaurants and its bakeries.
James River Corp., the Richmond-based paper company, earned $9.7 million in the 35 weeks ended Dec. 30. Its revenue in the period was $3.4 billion.
The firm changed its fiscal year from one ending in April to one ending in December; this shortened period was a transitional fiscal year. The company also said that because it is in the midst of a major restructuring, reported earnings can not be compared meaningfully with past earnings.