- First quarter net sales were $155.0 million compared to $163.8 million in the prior year period. Comparable store sales (1) decreased 3.1%, reflecting softness in outdoor and seasonal merchandise during the period.
- Net loss in the first quarter of fiscal 2012 was $4.5 million compared to net loss of $1.0 million in the first quarter of fiscal 2011.
- First quarter Non-GAAP Adjusted EBITDA (see reconciliation of Non-GAAP Adjusted EBITDA to net loss, below) was $7.5 million compared to $11.2 million in fiscal 2011 and primarily reflects lower year-over-year gross margin, as well as costs associated with being a public company.
Orchard Supply Hardware Stores Corporation Reports First Quarter Fiscal 2012 Financial Results; Reiterates Store Opening Plans And Positive Comparable Store Sales Outlook For Fiscal 2012
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