Retailer Roots Corp. reported a loss of $5.3 million in its latest quarter compared with a loss of $3.2 million a year earlier as its total sales edged higher. Roots clothing is pictured in Ottawa, Tuesday, Sept. 13, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Retailer Roots Corp. reported a loss of $5.3 million in its latest quarter compared with a loss of $3.2 million a year earlier as its total sales edged higher. Roots clothing is pictured in Ottawa, Tuesday, Sept. 13, 2022. THE CANADIAN PRESS/Sean Kilpatrick
TORONTO - Retailer Roots Corp. reported a loss of $5.3 million in its latest quarter compared with a loss of $3.2 million a year earlier as its total sales edged higher.
The company says its loss amounted to 13 cents per share for the quarter which ended July 29 compared with a loss of eight cents per share in the same quarter last year.
Sales in what was the company's second quarter totalled $49.4 million, up from $47.8 million a year earlier.
Roots says its direct-to-consumer sales, which include its corporate retail store and e-commerce sales, amounted to $37.1 million, down from $38.5 million a year ago.
The company says the decrease was driven by a challenging economic conditions and a competitive promotional environment.
Partner and other sales --- which include wholesale Roots branded products, licensing to select manufacturing partners and the sale of certain custom products --- totalled $12.3 million in the quarter, up from $9.3 million a year ago due to help from more sales to the company's international operating partner in Taiwan.
This report by ´ºÉ«Ö±²¥was first published Sept. 12, 2023.
