Franklin Covey Tuesday reported a net loss of $14.6 million, or 84 cents per share, for its third fiscal quarter ended May 26.
The loss, after accounting for preferred stock dividends, compares to an $18.8 million, or $1.02 per share, loss for the same period last year.
Salt Lake-based Franklin Covey said in a statement that its third fiscal quarter is seasonally its slowest, and it normally reports a loss in that quarter.
Sales for the quarter totaled $90.6 million, down 17 percent from the third fiscal quarter of 2000.
Comparable store sales declined 30 percent for the third quarter from last year. The company cited a 24 percent increase in the number of stores open this year compared to last, many of which "cannibalized" existing stores, and to renovations of the company's older stores during the quarter.
During the past 12 months, Franklin Covey said it opened 31 retail stores, bringing the total to 159 nationwide. Many of the new stores were in major markets in which the company already has retail outlets.
Best known for its Franklin Planner, the company offers a variety of time management and productivity seminars and products to clients.