USA: 7-Eleven sees Q1 net loss of US$38.6m
Dallas, Texas-based convenience retailing giant 7-Eleven has reported core earnings of US$1.8m, US$0.02/share, for the Q1 ended 31 March 2002. This compares to a loss from core operations of US$1.8m, US$0.02/diluted share, in the Q1 of 2001. The company also reported a Q1 net loss for 2002 of US$38.6m, US$0.37/diluted share. This includes a non-cash, after-tax charge of US$28.1m resulting from the adoption of SFAS No. 143, which relates to the removal of underground storage tanks. The Q1 net loss for 2001 aggregated US$7.5m, US$0.07/diluted share.
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