The Brick Ltd. reported a loss in the second quarter after turning a profit in the same period a year earlier.
The Edmonton-based retailer reported a net loss of $3.1 million or three cents per share for the quarter ending June 30, compared with a net profit of $6.4 million or 12 cents per share in the same period last year. The company said the loss includes a one-time payment of $17.1 million related to a debenture redemption.
Excluding the debenture related costs, The Brick said it earned seven cents per share for the quarter.
Quarterly revenue was $321.6 million, down from $324.8 million in 2011.
The company also announced a quarterly dividend of two cents per share.
The Brick Group is one of Canada's largest retailers of household furniture, mattresses, appliances and home electronics, operating under five banners: The Brick, United Furniture Warehouse, The Brick Mattress Store, and Urban Brick.
