KOBE, Japan -- Daiei here, Japan's largest supermarket retailer, said the Jan. 17 earthquake in Hanshin was responsible for the company's net loss for the year ended Feb. 28 -- its first net loss since 1988. The loss amounted to 50.7 billion yen ($52.4 million) compared with net earnings of $5.2 billion a year ago. Sales rose nearly a third to $33.3 billion from $25.5 billion a year ago. Conversions were made at the rate of one U.S. dollar equals 96.7 Japanese yen for fiscal 1994 and $1 ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.