USA: Fresh Choice reports drop in 2001 profit on slow sales
Fresh Choice has reported net income of US$1.1m (US$0.16/share) for fiscal year 2001, down from US$1.67m (US$0.24/share) in 2000. For the Q4, the company reported a net loss of US$907,000 (US$0.15/share), including store-closure and asset-impairment expenses of US$181,000 and restaurant-opening costs of US$206,000. This compared to a net loss of US$160,000 (US$0.03/share) for Q4 2000, which included store-closure and asset-impairment expenses of US$336,000 and restaurant-opening costs of US$6,000.
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