September 10, 2009 / 12:13 PM / 8 years ago

UPDATE 1-West 49 Q2 loss narrows

* Q2 loss C$0.01/shr vs yr-ago loss C$0.03/shr

* Q2 sales fall 3.1 pct

Sept 10 (Reuters) - West 49 Inc WXX.TO, a Canadian sports retailer, narrowed its second-quarter loss, helped by lower expenses and improved margins.

Net loss was C$1 million, or 1 Canadian cent a share, compared with a loss of C$1.8 million, or 3 Canadian cents a share, a year ago.

Net sales for the quarter ending Aug 1, fell 3.1 percent to C$43.6 million, hurt by the economic slowdown and unseasonably cool temperatures.

The company said gross margin rate rose 50 basis points to 21.8 percent of net sales, and the selling, general and administrative expenses fell C$0.9 million to C$9.2 million.

Shares of the Burlington, Ontario-based company closed at 44 Canadian cents Wednesday on the Toronto Stock Exchange. (Reporting by Amit Kumar in Bangalore; Editing by Ratul Ray Chaudhuri)

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