USA: Fleming attributes Q3 loss to retail operations

US wholesale-grocery distributor and retailer Fleming has reported a net loss of US$20.9m, or 39 cents a share, for the third quarter ending 5 October. This corresponds to a net income of US$19.1m, or 40 cents a share, for the third quarter last year. Excluding the results from Fleming’s retail price-impact grocery stores which it plans to sell, the loss from the company’s continuing operations was $1.5m, or three cents a share, compared with income for last year’s third quarter of $16.5m, or 35 cents a share. This was slightly higher than analysts’ expectations of a loss of 4 cents a share for the third quarter of 2002.