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Ermes Department Stores H1 loss narrows YOY

Ermes Department Stores PLC said its first-half normalized net income came to a loss of €1.3 million, compared with a loss of €2.8 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue climbed on an annual basis to €69.6 million from €68.4 million, and total operating expenses totaled €71.2 million, compared with €71.7 million in the year-earlier period.

Reported net income came to a loss of €2.1 million, or a loss of 1 cents per share, compared to a loss of €4.5 million, or a loss of 3 cents per share, in the year-earlier period.