RETAILING

Clothestime Posts Huge Loss: The beleaguered company posted a whopping $35.9-million loss and a 19% decline in sales for its fiscal fourth quarter, underscoring the struggles of the clothing chain as it entered bankruptcy. The loss included reorganization charges of $22 million related to the closure of underperforming stores. Anaheim-based Clothestime Inc. has closed 153 stores since filing for bankruptcy protection in December, leaving it with 397 locations in 20 states and Puerto Rico. The quarterly loss, $2.53 per share, more than quadrupled the loss of $8.51 million, or 60 cents per share, for the comparable quarter a year earlier. For the full year, the company reported a loss of $43 million, or $3.03 per share, compared with a loss of $11.2 million, or 79 cents per share, in 1995. Clothestime has been battered by competition from national retailers such as Wal-Mart and Sears, Roebuck & Co. Company officials were not available for comment.