TORONTO — Roots Corp. reported a first-quarter loss of $5.3 million compared with a loss of $4.9 million in the same quarter a year earlier, as its total sales rose 15 per cent.
The retailer says the loss amounted to 13 cents per share for the quarter ended April 30 compared with a loss of 12 cents per share a year ago.
Sales totalled $43.1 million, up from $37.3 million in the same quarter last year.
Direct-to-consumer sales amounted to $37.4 million, up from $31.4 million a year ago, reflecting the full opening of all of its stores during the quarter compared with about 70 per cent a year ago during a partial lockdown caused by the pandemic.
Partner and other sales totalled $5.7 million, down from $5.9 million.
Roots says the slight decline was related to a reduction in the company’s Asia business in Taiwan, which was higher a year ago due to a shift in timing of wholesale orders, partially offset by growth in sales of custom Roots-branded products to business clients and sales through TMall.com in China.
This report by The Canadian Press was first published June 14, 2022.
Companies in this story: (TSX:ROOT)
