CANADA: Algo Widens Q2 Loss, Sales Fall
Fashion firm Algo Group Inc on Wednesday reported a wider second quarter loss as it was hit by the growing strength of the Canadian dollar and the closure of the Mudd division of its sportswear business unit. The Montreal-based firm, which also designs and imports fashion fabric, posted a net loss for the 13 weeks ended June 30 of C$1.6 million or two cents per share, compared with a net loss of C$1.5m, or two cents, in the year-ago period.
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