Losses at Rivers have halved, fuelling hopes that parent company Specialty Fashion Group will return to an annual profit. Specialty Fashion expects Rivers will begin turning a profit in fiscal 2017 for the first time since it bought the discount retailer for $3.6 million in 2013. While the price was considered a bargain, the group, which also owns women's fashion chains Millers, Katies, City Chic, Crossroads and Autograph, inherited a huge amount of old stock.
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