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Hart Stores Q1 sales reached $14.9 million

Staff writer |
Hart Stores, Inc. announced its financial results for the first quarter ended May 4, 2014. Sales reached $14.9 million compared to $16.3 million in the previous year.

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The net loss for the quarter was $3 million or $0.22 per share compared to a net loss of $3.2 million or $0.23 per share for the same period in the previous year. Comparable store sales decreased 8.9% for the first quarter versus the same period last year. A continuing soft retail environment and poor weather impacted first quarter results.

Hart Stores operates a network of 60 mid-sized department stores located in secondary and tertiary markets in Eastern Canada.