MENLO PARK, Calif. E-Trade Group Inc. reported a net loss of $7.2 million, or 2 cents a share, in the first quarter, after a net loss of $25.5 million, or 9 cents a share, a year earlier.
Net revenues declined 21%, to $330 million.
Milestones in the quarter included additions to the online brokerages brick-and-mortar outlets. It opened the E-Trade Center, its flagship financial superstore in New York City. It also expanded its relationship with the retailer Target Corp. through an agreement to add 1,000 automated teller machines in Target stores over the next two years and develop 20 new E-Trade Zones in SuperTarget stores over the next year.