Rona Inc. (RON.TO, RON-PA.TO) reported that its first-quarter adjusted net loss applicable to participating shares widened to C$22.7 million or C$0.19 per share from C$13.5 million or C$0.11 per share in the same quarter last year, primarily due to the decrease in adjusted gross margin. Analysts polled by Thomson Reuters expected the company to report a loss of C$0.11 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues of C$929.4 million, down C$4.6 million or 0.5% compared to the first quarter of 2012. Revenues were up C$18.2 million in the distribution segment and down C$22.8 million in the retail and commercial segment.
RONA's same-store sales down 0.8% in the first quarter of 2013, compared to the first quarter of 2012.
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