Le Château Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended January 28, 2017; Reports Impairment of Property and Equipment and Intangible Assets for the Fourth Quarter Ended January 28, 2017; Reports Sales Results for the First Quarter Ended April 22, 2017
For the year, sales were CAD 226,587,000 against CAD 236,876,000 a year ago. Results from operating activities were CAD 32,134,000 against CAD 31,833,000 a year ago. Loss before income taxes was CAD 37,226,000 against CAD 35,745,000 a year ago. Net loss was CAD 37,226,000 against CAD 35,745,000 a year ago. Net loss per basic and diluted share was CAD 1.24 against CAD 1.19 a year ago. Cash flows used in operating activities was CAD 7,428,000 against CAD 14,161,000 a year ago. Additions to property and equipment and intangible assets were CAD 4,516,000 against CAD 9,115,000 a year ago. Adjusted LBITDA was CAD 16,342,000 against CAD 12,811,000 a year ago.
For the quarter, write-off and net impairment of property and equipment and intangible assets was CAD 913,000 against CAD 1,264,000 a year ago.
For the first twelve weeks ended April 22, 2017, total retail sales decreased 8.2%, with 27 fewer stores in operation. Comparable store sales decreased 1.6% compared to the same period last year, with comparable regular store sales increasing 0.6% and comparable outlet store sales decreasing 9.9%. Included in comparable store sales are online sales which increased 21.0%.