Praktiker Q1 loss widens as cold weather weighs on demand
FRANKFURT, April 25
FRANKFURT, April 25 (Reuters) - German DIY retailer Praktiker said harsh winter weather led to widening quarterly losses but said it expected the coming months to make up for the downturn.
"We see that sales are now picking up as the temperatures rise," Chief Executive Armin Burger said on Thursday.
Sales fell 10 percent to 570.1 million euros ($740.87 million) in the first quarter and the net loss from continuing operations widened to 117.9 million euros from 72.0 million a year earlier.
For the first quarter, analysts had expected a net loss of 108 million euros on sales of 592 million, according to a Reuters poll. ($1 = 0.7695 euros) (Reporting by Maria Sheahan; editing by Harro ten Wolde)