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Parkson Retail Q3 loss widens 81.2% YOY

Parkson Retail Group Ltd said its third-quarter normalized net income amounted to 66.9 million yuan, compared with a loss of 36.9 million yuan in the prior-year period.

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

The normalized profit margin declined to negative 6.3% from negative 3.5% in the year-earlier period.

Total revenue totaled 1.07 billion yuan, compared with 1.07 billion yuan in the prior-year period, and total operating expenses grew on an annual basis to 1.15 billion yuan from 1.12 billion yuan.

Reported net income totaled a loss of 123.9 million yuan, compared with a loss of 77.0 million yuan in the year-earlier period.

As of Nov. 17, US$1 was equivalent to 6.88 yuan.