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Fourth quarter | Roots posts declining profit and revenue

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(Toronto) Roots on Wednesday posted fourth-quarter earnings down from the same period a year earlier, as its sales also fell.

The apparel and accessories retailer posted a profit of $13.0 million, or 31 cents per share, for the quarter ended Jan. 28, which compared to a profit of $18.1 million, or 42 cents per share , for the same period last year.

Overall sales totaled 111.5 million in the quarter, up from 121.3 million a year earlier.

Sales at corporate stores and e-commerce fell to 98.5 million in the most recent quarter, from 110.6 million a year earlier.

Roots primarily attributed these results to economic headwinds and an intensified promotional environment.

Partner and other sales totaled 12.9 million in the fourth quarter, down from 10.7 million a year earlier. They were fueled by stronger sales from Roots’ partner in Taiwan, growth in wholesale of Roots-branded products to selected partners and the favorable exchange rate impact.

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