These retailers face tough competition

Article Excerpt

BMTC GROUP $13.82 (Toronto symbol GBT; TSINetwork Rating: Extra Risk) (514-648-5757; No website; Shares outstanding: 34.7 million; Market cap: $477.9 million; Dividend yield: 2.0%) has 36 outlets and is one of Quebec’s biggest retailers of furniture, electronics and appliances. The company mainly sells these items through two chains: Brault & Martineau and Ameublements Tanguay. BMTC has changed its fiscal year-end to January 31 from December 31. That brings it in line with most other retailers. December 31 is typically too close to the heaviest selling season. That means retailers may have a more difficult time producing annual financial statements and counting inventories because they’re focused on the sales floor. Sales for the third quarter, ended October 21, 2018, fell 9.6%, to $184.1 million from $203.7 million a year earlier. Excluding one-time items, the company made $11.6 million, or $0.34 a share, in the latest quarter. That’s down 33.8% from $17.5 million, or $0.48 a share. The lower sales and profits were mostly due to differing…

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