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CORPORATE REPORT: MOLSON TABS NHL LOCKOUT FOR LOSSES
Published February 2, 1995
Molson Breweries says its fiscal 3rdQ net income fell 1.3% because of losses from the NHL lockout and higher sales of discount beer in Quebec. Net income for the first three months ended January 1 fell to C$33.5M from C$38.2M a year ago. Sales dropped 1.5% to C$507.2M from C$515M. The company said results from the most recent period include pretax losses of C$5.2M from the loss of broadcast rights sales due to the NHL lockout (Toronto GLOBE & MAIL, 2/2). FOOTWEAR: Both Reebok's and Nike's stock declined yesterday. Reebok fell 2 3/4 to 35 1/4 after the company's report that earnings were lower than expected, while Nike fell 1 1/8 to 69 7/8 over news on its planned acquisition of Canstar (Michael Gonzalez, WALL STREET JOURNAL, 2/2).