Jun 11, 2021
Roots reports $4.9M Q1 loss, sales up nearly 25%
The Canadian Press
A lot more brand excitement and a lot more discipline in the company: Roots CEO
The clothing retailer says the loss amounted to 12 cents per diluted share for the quarter ended May 1.
The result compared with a loss of $7.8 million or 18 cents per diluted share a year ago.
Sales in what was the company's first quarter totalled $37.3 million, up from $29.9 million in the same quarter last year.
Roots says its stores were closed due to the pandemic for about 30 per cent of the quarter compared with about half of the same quarter last year.
On an adjusted basis, Roots says it lost 10 cents per share in its latest quarter compared with an adjusted loss of 22 cents per share a year ago.