Rona posts bigger loss, revenue dips

Tue May 14, 2013 9:58am EDT
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May 14 (Reuters) - Canada's top home improvement retailer and distributor Rona Inc reported a bigger quarterly loss on Tuesday, as it grappled with a restructuring, rising building material costs and difficult market conditions.

Rona said its adjusted net loss was 19 Canadian cents a share, up from 11 Canadian cents a share in the same period last year.

Rona, which has a new chief executive in charge of overhauling the company, said revenue dipped 0.5 percent to C$929.4 million ($929.40 million).