Kirkcaldie shares plunge 9.2 percent as annual loss widens on bleak retailing

Tue, 30 Oct 2012

By Paul McBeth Oct. 30 (BusinessDesk) - Kirkcaldie & Stains' shares sank 9.2 percent after the Wellington department store operator made a bigger annual loss on a deteriorating performance from its unprofitable retail unit. The company made a loss of $773,000, or 7.57 cents per share, in the 12 months ended Aug. 31, widening the loss of $56,000, or 0.55 cents, a year earlier, it said in a statement. The red ink stemmed from Kirkcaldie's ailing retail business, which had a loss of $1.2 million compared with a loss of $465,000 in 2011. Retail...

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