SAN JUAN, Puerto Rico -- Pueblo Xtra International here said its year-old loyalty card program helped boost same-store sales for the first quarter ended Feb. 23.
sion rose 0.3% -- which the company said was due primarily to the PuebloCard it launched in March 2001, as well as its repositioning efforts. Sales in the video-rental division fell 0.4% during the quarter.
Pueblo said it had a net loss of $4.6 million during the quarter, compared with a $4.8 million loss a year ago, while operating cash flow rose 20.2% to $11.3 million.
Pueblo said the appraisal process concerning business-interruption claims stemming from Hurricane Georges in September 1998 are continuing, although the company and its insurance carriers have been unable to agree on what court has jurisdiction over the appointment of an umpire to settle the matter. Consequently, the appointment of the umpire is being litigated in two jurisdictions -- Florida and Puerto Rico.
The company said it has received reimbursements totaling $6.9 million in connection with a $69.4 million proof-of-loss submitted in December 2000. That money was received prior to the quarter and will not be included in income until the claim is settled and the related gain is realized, Pueblo officials said.
Pueblo changed its fiscal year-end from the Saturday closest to Jan. 31 to the Saturday closest to Oct. 31. Consequently, the first quarter of the current year is being compared on a pro-forma basis with a similar 16-week period ending Feb. 24, 2001.
