June 10, 2010 / 12:55 PM / 7 years ago

UPDATE 1-Canada's West 49 posts Q2 loss; outlook cautious

* Q1 loss flat at C$0.04/shr

* Q1 revenue up at C$40.9 mln

* Says outlook remains cautiously optimistic

June 10 (Reuters) - Canada's teenage clothing retailer West 49 Inc's WXX.TO quarterly loss was little changed and said it had a cautiously optimistic outlook as consumer confidence was yet to be restored.

For the first-quarter ended May 1, the company reported a net loss of C$2.6 million or 4 Canadian cents a share unchanged from a year ago.

Net sales of the company rose 0.2 percent to C$40.9 million.

The company said gross margin decreased by 30 basis points to 17.8 percent.

Shares of the Burlington, Ontario-based company closed at 50 Canadian cents Wednesday on the Toronto Stock Exchange. (Reporting by Dinesh Mehta in Bangalore; Editing by Prem Udayabhanu)

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