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Roots reports $12.3M fourth-quarter profit even as pandemic hurt sales
The storefront of a Roots location in Toronto is pictured on Thursday, September 14, 2017. THE CANADIAN PRESS/Chris Young April 08, 2021 - 5:12 AM
TORONTO - Roots Corp. earned a profit of $12.3 million in its fourth quarter even as its sales fell due to the pandemic.
The retailer says its profit amounted to 29 cents per share for the three-month period ended Jan. 30.
The result compared with a loss of $44.6 million or $1.06 per share a year earlier when the company took a large goodwill charge.
On an adjusted basis, Roots says it earned $16.3 million or 39 cents per share, up from an adjusted profit of $13.3 million or 31 cents per share a year earlier.