TORONTO May 13 Canadian home improvement
retailer and distributor Rona Inc reported a narrower
first-quarter loss on Tuesday after sharply cutting costs, but
sales at established stores were hurt by a soft market and tough
winter weather that delayed construction and renovation
The Boucherville, Quebec-based company, which has eliminated
jobs, closed stores and sold assets under an aggressive
restructuring plan, reported an adjusted net loss attributable
to participating shares of 12 Canadian cents a share, down from
an adjusted net loss of 15 Canadian cents a share in the same
period last year.
Revenue was C$764.3 million, down from C$832.9 million.
(Reporting by Susan Taylor and Solarina Ho; Editing by Nick