DAIEI NET TUMBLES IN QUAKE WAKE

KOBE, Japan -- Daiei here, Japan's largest supermarket retailer, said the Jan. 17 earthquake in Hanshin was responsible for the company's net loss for the year ended Feb. 28 -- its first net loss since 1988.The loss amounted to 50.7 billion yen ($52.4 million) compared with net earnings of $5.2 billion a year ago. Sales rose nearly a third to $33.3 billion from $25.5 billion a year ago.Conversions

KOBE, Japan -- Daiei here, Japan's largest supermarket retailer, said the Jan. 17 earthquake in Hanshin was responsible for the company's net loss for the year ended Feb. 28 -- its first net loss since 1988.

Register to view the full article