Hart Stores reports first quarter results
June 17 2014 - 6:12PM
PR Newswire (Canada)
SYMBOL: HIS (TSXV)
www.hartstores.com
LAVAL, QC,
June 17, 2014 /CNW Telbec/ - Hart
Stores Inc. (TSXV: HIS) announces its financial results today for
the first quarter ended May 4,
2014.
For the first quarter, sales reached
$14.9 million compared to
$16.3 million in the previous year.
The net loss for the quarter was $3.0
million or $0.22 per share
compared to a net loss of $3.2
million or $0.23 per share for
the same period in the previous year. Comparable store sales
decreased 8.9% for the first quarter versus the same period last
year. A continuing soft retail environment and poor weather
impacted first quarter results.
|
|
Summary of quarter |
1st Quarter ending |
(In thousands of dollars,
except per share amounts) |
(Unaudited) |
|
(13
weeks) |
|
(13 weeks) |
|
May 4, 2014 |
|
May 5, 2013 |
|
$ |
|
$ |
Sales |
14,927 |
|
16,282 |
Restructuring costs |
(11) |
|
(3) |
Net loss |
(3,019) |
|
(3,151) |
Net loss per share: |
|
|
|
|
Basic |
(0.22) |
|
(0.23) |
|
Diluted |
(0.22) |
|
(0.23) |
About Hart Stores Inc.:
Hart Stores Inc. operates a network of 60
mid-sized department stores located in secondary and tertiary
markets in Eastern Canada, where
the Company has established a dominant position in many of the
communities that it serves. The stores offer an extensive and
differentiated selection of national and exclusive fashion apparel
brands as well as family footwear, home furnishings, electronics,
appliances, giftware, toys and seasonal goods.
SOURCE Hart Stores Inc.
Copyright 2014 Canada NewsWire