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Brick loses $3.1 million

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.

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.

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