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Reuters
Published
Sep 10, 2009
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West 49 second quarter loss narrows

By
Reuters
Published
Sep 10, 2009

Sept 10 (Reuters) - West 49 Inc (WXX.TO), a Canadian sports retailer, narrowed its second-quarter loss, helped by lower expenses and improved margins.

West 49 Inc
Kurt Ropchan for West 49 - Photo: www.west49.com

Net loss was C$1 million, or 1 Canadian cent a share, compared with a loss of C$1.8 million, or 3 Canadian cents a share, a year ago.

Net sales for the quarter ending Aug 1, fell 3.1 percent to C$43.6 million, hurt by the economic slowdown and unseasonably cool temperatures.

The company said gross margin rate rose 50 basis points to 21.8 percent of net sales, and the selling, general and administrative expenses fell C$0.9 million to C$9.2 million.

Shares of the Burlington, Ontario-based company closed at 44 Canadian cents Wednesday 9 September on the Toronto Stock Exchange.

(Reporting by Amit Kumar in Bangalore; Editing by Ratul Ray Chaudhuri)

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