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CP Lotus Corp Comments On FY 2012 Earnings Guidance; Comments On FY 2012 Same Store Sales Guidance

Friday, 28 Dec 2012 10:00am EST 

CP Lotus Corp announced that for fiscal 2012, it expected to record a loss as compared to a profit recorded in the same period in 2011. The expected loss was mainly attributable to negative same store sales growth, increase in minimum wages in China, reduction in non-cash deferred tax assets and accrued restructuring cost to align with the Company‚Äôs new development and operation strategy going forward. 

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