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Venue Retail fiscal Q3 loss narrows YOY

Venue Retail Group AB said its normalized net income for the fiscal third quarter ended May 31 was a loss of 1.59 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of a loss of 1.89 kronor per share.

The per-share loss narrowed 33.8% year over year from 2.41 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 19.4 million kronor, compared with a loss of 19.6 million kronor in the year-earlier period.

The normalized profit margin declined to negative 10.8% from negative 10.5% in the year-earlier period.

Total revenue fell on an annual basis to 179.7 million kronor from 185.7 million kronor, and total operating expenses fell year over year to 213.8 million kronor from 217.0 million kronor.

Reported net income totaled a loss of 31.8 million kronor, or a loss of 2.61 kronor per share, compared to a loss of 35.5 million kronor, or a loss of 4.37 kronor per share, in the prior-year period.

As of June 25, US$1 was equivalent to 8.26 Swedish kronor.