Crown Books expects to report a dramatic reduction in its loss for the third quarter ended October 31, when it files its quarterly statement with the SEC this week. Crown estimates that its loss in the most recent period will be $6.2 million, compared to $25.6 million in last year's third quarter. Crown credits the closing of unprofitable stores in the second quarter for the decline in its loss. For the first nine months of the year, Crown expects to report a loss of $45 million, up from a loss of $32.5 million in the comparable period in fiscal 1998.
Crown's filing with the SEC, which was due December 15, was delayed, according to the company, because of reduced staffing in its accounting and financial areas.
