21:12:48 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Roots Corp
Symbol ROOT
Shares Issued 41,178,820
Close 2023-06-08 C$ 2.99
Market Cap C$ 123,124,672
Recent Sedar Documents

Globe/CP say Roots increases Q2 loss on lower sales

2023-06-09 08:18 ET - In the News

The Globe and Mail reports in its Friday edition that Roots has posted a first-quarter loss of $8-million compared with a loss of $5.3-million a year earlier, as its sales edged down on lower demand for sweatpants. A Canadian Press dispatch to The Globe says that Roots chief executive officer Meghan Roach says the results aligned with the company's internal projections and reflected a challenging economic environment. The retailer says the loss amounted to 19 cents per diluted share for the quarter ended April 30 compared with a loss of 13 cents per diluted share in the same quarter last year. Sales in the quarter totalled $41.5-million, down from $43.1-million a year ago. Roots says the decline in sales came as its direct-to-consumer sales amounted to $35.4-million, down from $37.4-million in the same quarter last year. Partner and other sales, which includes wholesale Roots branded products, licensing to select manufacturing partners and the sale of certain custom products, totalled $6.1-million, up from $5.7-million a year ago. Roots closed Thursday at $2.99, down six cents on the Toronto Stock Exchange.

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