(Toronto) Retailer Roots posted 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 rose slightly.
The company says its loss was 13 cents per share for the quarter that ended July 29, compared with a loss of 8 cents per share for the same quarter a year earlier.
The company’s second-quarter revenue was 49.4 million, up from 47.8 million a year earlier.
Roots says its direct-to-consumer sales, which include sales from its retail stores and e-commerce, were 37.1 million, down from 38.5 million the year before.
The company explains this decline by a difficult economic situation and a competitive promotional environment.
Sales to partners and others – which include wholesale Roots-branded products, licensing to select manufacturing partners and sales of certain custom products – totaled 12.3 million in the quarter, up from 9.3 million a year ago, thanks to increased sales to the company’s international operating partner in Taiwan.
Company in this dispatch: (TSX: ROOT)
