News: TRS Reject Shop says expects to report net operating loss in 2HY of at least $5 million

April 7 (Reuters) - Reject Shop Ltd (TRS)

• Company expects to report a net operating loss in second half of year of at least $5 million
• Challenging retail trading conditions continued, with all states experiencing negative comparable store growth in q3
• Given fall in projected earnings per share, and working capital requirements, company is unlikely to declare a final dividend.
• Company is unlikely to declare a final dividend
• Despite below expectation sales performance, company has been actively managing its inventory position through half.
• Underlying customer numbers continue to be below same time as last year, resulting in negative underlying comparable sales of about 4% for half year to date
• Sees full year net profit about $12.5 million
• Promotional activity has not generated incremental foot traffic required to grow comparable sales