Rona reports smaller loss; soft market and weather weigh

Tue May 13, 2014 8:59am EDT
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TORONTO May 13 (Reuters) - Canadian home improvement retailer and distributor Rona Inc reported a narrower first-quarter loss on Tuesday after sharply cutting costs, but sales at established stores were hurt by a soft market and tough winter weather that delayed construction and renovation projects.

The Boucherville, Quebec-based company, which has eliminated jobs, closed stores and sold assets under an aggressive restructuring plan, reported an adjusted net loss attributable to participating shares of 12 Canadian cents a share, down from an adjusted net loss of 15 Canadian cents a share in the same period last year.

Revenue was C$764.3 million, down from C$832.9 million. (Reporting by Susan Taylor and Solarina Ho; Editing by Nick Zieminski)