Clothestime, an Anaheim-based women’s discount clothing chain,...

Clothestime, an Anaheim-based women’s discount clothing chain, said its fiscal 1987 net income slid 45% to $6.5 million from $11.9 million in fiscal 1986. Sales for the year ended Jan. 30 grew 11%, to $178.7 million from $160.3 million the previous year. In the fourth quarter, Clothestime posted net income of $304,000, down 82% from $1.6 million for the final period of fiscal 1986. Fourth-quarter sales dipped 1%, to $41.6 million from $42.1 million, in part because the 1986 period included six more shopping days than 1987’s final quarter. Norman Abramson, president and chief operating officer, largely blamed a $1.6-million loss in the third quarter for the year’s disappointing results. That is when Clothestime slashed prices to clear out slow-moving merchandise. During the fourth-quarter holiday season, Abramson said, sales were down nationally in the junior ladies apparel industry.