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Roots Corp
Symbol ROOT
Shares Issued 40,299,314
Close 2023-09-12 C$ 2.88
Market Cap C$ 116,062,024
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Post/CP say Roots loses $5.3-million in Q2

2023-09-13 09:38 ET - In the News

The Financial Post reports in its Wednesday edition that 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 edged higher. A Canadian Press dispatch to the Post says that the 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 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 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. Roots closed Tuesday at $2.88, down two cents on the Toronto Stock Exchange.

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