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4w ago

Roots Reports Narrower Q1 Loss as Sales Climb 6.7%

Direct-to-consumer channels delivered a 14.1% comparable sales increase that fueled the quarterly revenue gain.

A shopper enters a Roots clothing store in Ottawa, Tuesday, Sept. 13, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Overview

  • Roots recorded a first-quarter net loss of $7.9 million, improving from a $8.9 million shortfall a year earlier.
  • The retailer’s loss per share narrowed to 20 cents from 22 cents in the same period last year.
  • Total sales rose 6.7% to $40.0 million, up from $37.5 million a year ago.
  • Direct-to-consumer revenue reached $34.6 million, representing a 14.1% increase over the prior year.
  • Wholesale and partner sales declined to $5.4 million from $6.1 million in the first quarter of 2024.