Kirkcaldie turns to first-half loss on falling retail sales, building costs

Kirkcaldie turns to first-half loss on falling retail sales, building costs
April 29 (BusinessDesk) – Kirkcaldie & Stains, Wellington’s upscale department store, turned to a first-half loss as sales fell and it incurred additional costs to refurbish its Harbour City Centre building as insurance and property taxes rose. The net loss was $531,000 in the six months ended Feb. 28, from a profit of $11,000 a year earlier, the Wellington-based company said in a statement. Sales fell to $19.8 million from $20.9 million. Kirkcaldie managed to reduce the pretax loss from its retail operation by 32 percent to $227,000 in the...