Wickes Cos. reported a $2.6-million loss for...

Wickes Cos. reported a $2.6-million loss for the first quarter ended April 30, including a $15.5-million extraordinary charge from discontinued operations. A year earlier, the Santa Monica-based firm, which operates Builders Emporium home improvement centers, posted net income of $120 million, including income from discontinued operations--principally gains on dispositions--of $109.8 million. Revenue rose 5% from the same period last year. Sanford C. Sigoloff, chairman and chief executive, said that while operating income from the company’s continuing businesses was at about the same level as last year’s, interest expense was down as a result of a debt-reduction program. Sigoloff added that the company has completed the sale of its lumber unit and that it is continuing discussions regarding the sale of its apparel and hosiery units.

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