Martin Lawrence Chain Narrows Quarterly Loss

Martin Lawrence Limited Editions Inc., the troubled Van Nuys-based art gallery chain, posted a narrower loss in its third quarter on a 47% increase in sales.

For the quarter ending Sept. 30, the company posted a loss of $538,000, compared to a $816,000 loss in the same period a year earlier. Sales in the latest quarter rose to $6.2 million, up from $4.2 million a year ago.

The company said that its same-store sales climbed 50% in the third quarter, marking its sixth straight quarterly increase in same-store sales.

But for the nine months ending Sept. 30, Martin Lawrence still posted a $2.5-million loss, compared to a $3.1-million loss in the same period a year earlier. Its nine-month sales climbed about 27% to $14.7 million, up from $11.5 million.