ShopKo Posts Q3 Loss
Green Bay, Wis., ShopKo Stores posted a quarterly loss, largely due to merger-related costs. The company posted a loss of $14.1 million in the third quarter ended Oct. 29, compared to a profit of $2 million in the same quarter last year. The merger cost $16.3 million—including a $13.5 million payout to Badger Retail Holding, which had agreed to buy Shopko before Sun Capital Partners stepped in with the winning bid.
Consolidated sales decreased 5.6% to $704.8 million in the third quarter of 2005 compared with $746.4 million for the comparable period last year. Consolidated comparable-store sales decreased 5.8%.