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Cnova Q2 loss widens 96.1% YOY

Cnova NV said its second-quarter normalized net income was a loss of 4 euro cents per share, compared with a loss of 2 cents 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 €17.8 million, compared with a loss of €9.1 million in the prior-year period.

The normalized profit margin climbed to negative 0.0% from negative 1.2% in the year-earlier period.

Total revenue climbed 10.7% year over year to €836.7 million from €755.9 million, and total operating expenses rose 15.2% on an annual basis to €860.4 million from €747.1 million.

Reported net income came to a loss of €36.2 million, or a loss of 8 cents per share, compared to a loss of €21.1 million, or a loss of 5 cents per share, in the year-earlier period.