Money Roots reports bigger first quarter loss as sales hampered by winter storm

20:26  13 june  2018
20:26  13 june  2018 Source:

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a person holding a bag of luggage sitting on top of a suitcase © David Donnelly/CBC  

Roots Corp. reported a loss of $5.6 million in its fiscal first quarter, an increase from the prior year, but also reported an improvement in sales.

The loss amounted to 13 cents per share, compared with last year's loss of $5.1 million, or 12 cents per share.

Its adjusted net loss was $4.5 million or 11 cents per share, compared with $3.6 million or nine cents per share a year ago.

Analysts had expected a loss of nine cents per share, according to Thomson Reuters Eikon.

But Roots says it remains confident that it will achieve its full-year target of between $35 million and $40 million of adjusted net income and between $410 million and $450 million of sales for fiscal 2019.

Total sales for the quarter ended May 5 were up 5.8 per cent to $51 million, from $48.2 million.

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BlackBerry shares dive after mixed Q1 report .
BlackBerry Ltd. shares sank almost 10 per cent to their lowest levels in weeks on Friday, despite beating analysts' estimates and reporting a solid start to its 2019 financial year. The company's stock closed down $1.45 or 9.29 per cent at $14.16 on the Toronto Stock Exchange to put it back to where it was trading in early May.BlackBerry, which reports in U.S. currency, reported adjusted earnings of three cents per share, beating analysts' expectations of neutral earnings, while revenue was US$213 million, surpassing expectations of US$208.02 million for the quarter ended May 31, according to Thomson Reuters Eikon.

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