FJ Benjamin’s losses almost double

Clothing retailer FJ Benjamin has deepened its losses after discontinuing some brands and businesses during its second quarter.

Its net loss virtually doubled from S$3.7 million (US$2.6 million) in the same quarter a year ago to S$7.3 million. The group says the situation was worsened by a foreign exchange loss of S$3.2 million in the latest quarter due to the strengthening of the US dollar.

For the three months to December 31, revenue fell 11.9 per cent to S$62.5 million.