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Nanjing Xinjiekou Department Store Q3 loss narrows YOY

Nanjing Xinjiekou Department Store Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 12 fen per share, compared with a loss of 15 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 95.2 million yuan, compared with a loss of 119.8 million yuan in the year-earlier period.

The normalized profit margin increased to negative 2.3% from negative 3.6% in the year-earlier period.

Total revenue decreased 8.3% on an annual basis to 3.06 billion yuan from 3.34 billion yuan, and total operating expenses decreased 6.2% year over year to 3.21 billion yuan from 3.42 billion yuan.

Reported net income totaled a loss of 177.1 million yuan, or a loss of 22 fen per share, compared to a loss of 228.3 million yuan, or a loss of 28 fen per share, in the year-earlier period.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.