SYMBOL: HIS (TSX)
www.hartstores.com
LAVAL, QC,
Dec. 3
/CNW Telbec/ - Hart Stores Inc., an operator of mid-sized department stores (HIS:TSX), reported net earnings of
$0.4 million
for the third quarter ended
October 31, 2009
or
$0.03
diluted net earnings per share, compared to
$0.8 million
in the same period the previous year or
$0.06
diluted net earnings per share.
Sales for the third quarter ended
October 31, 2009
were
$44.6 million
compared to
$46.2 million
the previous year, a decrease of
$1.6 million
or 3.5%. Same store sales for the period showed a decrease of 8.1% or 5.3% after adjusting for the timing of a major promotional event that occurred in the second quarter this year compared to the third quarter last year.
For the nine-month period ended
October 31, 2009
net earnings were
$0.8 million
or
$0.06
diluted net earnings per share compared to
$2.2 million
or
$0.16
diluted net earnings per share for the same period last year. Total sales increased by
$7.6 million
or 6.4% to
$125.9 million
from
$118.3 million
last year.
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Quarter and nine-month For the 13 weeks ended: For the 39 weeks ended:
periods (Unaudited)
(In thousands of
dollars, except
per share amounts) October 31, November 1, October 31, November 1,
2009 2008 2009 2008
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Sales 44,626 46,183 125,855 118,316
Other income - - 850 350
Net earnings 376 757 828 2,229
Net earnings per share:
Basic 0.03 0.06 0.06 0.16
Diluted 0.03 0.06 0.06 0.16
About Hart Stores Inc.:
Hart Stores Inc. operates a network of 90 mid-sized department stores under the Hart, Bargain Giant and Géant des Aubaines banners. The stores are located in secondary and tertiary markets throughout Eastern
Canada
where the Company has established a dominant position in many of the communities that it serves. The stores offer an extensive and differentiated selection of national and exclusive fashion apparel brands as well as family footwear, home furnishings, housewares, electrical appliances, home electronics, bed & bath, giftware, toys and seasonal goods.
%SEDAR: 00004123EF
For further information: Mr. Jacques Plante, CA, Vice-President and Chief Financial Officer, Hart Stores Inc., (450) 661-4155, [email protected]; www.hartstores.com
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