The Investment Reporter, in its June 23, 2023, issue, says hold Roots Corp., recently $3.03. The Reporter said to buy Roots once before on Sept. 9, 2022, at $3.07. Assuming a $1,000 investment, the position would now be worth $984. Roots describes itself as a "global lifestyle brand." It has over 100 retail stores in Canada, two in the United States and an e-commerce business that services international sales. For the three months ended April 29, 2023, Roots lost $8-million, or 19 cents a share, compared with a loss of $5.3-million, or 13 cents a share, in the same period of 2022. The outlook for the remainder of the year is not positive. Earnings per share are projected to declined to 17 cents a share in fiscal 2024 from 23 cents in fiscal 2023. The retail environment will likely remain difficult as consumers -- pressured by inflation and higher interest rates -- switch their spending from discretionary goods to more essential requirements. The company does have a solid financial position which should help it get through a difficult period. The Reporter says hold Roots.
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