Retail/rental revenue was off 10% to $21,760,000 from $24,087,000 in the seasonally small fiscal fourth quarter ended Jul. 31, as historically challenging snow conditions, particularly in the Rockies, impacted results. Retail cost of sales decreased by 19% to $8,993,000, resulting in a 500 basis point margin deleverage to 41.3% of segment sales. Overall, FQ4’s net loss attributable to Vail Resorts expanded 4% to $190,155,000 from a loss of $182,361,000 on sales that were up 2% to $271,289,000 from $271,289,000.

For the full year, retail/rental sales narrowed 7% to $282,774,000 from $302,450,000. Retail ... Log in to view full article.