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Venue Retail fiscal Q2 loss narrows YOY

Venue Retail Group AB said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to a loss of 17 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 59 öre per share.

The per-share loss decreased 72.8% year over year from 62 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.1 million kronor, compared with a loss of 5.1 million kronor in the prior-year period.

The normalized profit margin climbed to negative 0.8% from negative 2.0% in the year-earlier period.

Total revenue climbed on an annual basis to 265.1 million kronor from 256.7 million kronor, and total operating expenses climbed on an annual basis to 274.4 million kronor from 263.0 million kronor.

Reported net income totaled a loss of 5.6 million kronor, or a loss of 46 öre per share, compared to a loss of 8.1 million kronor, or a loss of 100 öre per share, in the prior-year period.

As of March 26, US$1 was equivalent to 8.56 Swedish kronor.