Mars Store Inc said itexpects to report a loss of about 800,000 dlrs for the fourth
quarter and about 1.1 mln dlrs for the fiscal year ended
January 31.
    As a result of the loss, the company said it has decided to
discontinue the operations of its Big Value Outlets division,
which will result in a yet undisclosed one time charge against
earnings for the year.
    The estimated 1.1 mln dlrs year loss or about 50 cts a
share, compares with earnings of 871,000 dlrs or 42 cts a share
recorded last year.
    "The fourth quarter loss was affected by an abnormally high
inventory shrinkage, lower than planned sales and higher
markdowns related to increased promotional activity, all of
which reduced fourth quarter gross margins," the company said.
    In order to concentrate on the company's core business, the
operation of discount and promotional department stores, Mars
said, it has decided to close the Big Value division.
 Reuter
