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.
Mr. Franco Messina
VP Finance and CFO
(450) 661-4155
Copyright CNW Group 2014