Retail/rental revenue inched down 1% to $24,087,000 from $24,304,000 in the seasonally small fiscal fourth quarter ended Jul. 31, as North American and European summer operations were in line with guidance, while Australia benefited from improved weather. Retail cost of sales decreased by 2% to $11,168,000, resulting in a margin deleverage of 60 basis points to 46.4% of segment sales. Overall, FQ4's net loss attributable to Vail Resorts expanded 5% to $185,460,000 from $176,566,000 on sales that were up 2% to $271,289,000 from $265,386,000.

For the full year, retail/rental sales decreased by ... Log in to view full article.