Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Retailer Roots sales up, profits down in third quarter compared to year ago

December 5, 2017 6:43 PM
32 0

Retailer Roots Corp. says sales were up 13 per cent in its latest quarter compared with a year ago as it released its first quarterly report since completing its initial public offering.

Sales totalled $89.7 million for what was the company’s third quarter, up from $79.4 million in the same quarter last year.

The increase was driven by comparable sales growth of 10.1 per cent and the opening of four net new corporate stores compared with a year ago.

The retailer earned $5 million or 12 cents per share for the 13 weeks ended Oct. 28 compared with a profit of $5.9 million or 14 cents per share in the same period last year.

On an adjusted basis, Roots says it earned $9.5 million or 23 cents per share, up from $7.6 million or 18 cents per share a year ago. Analysts had expected a profit of 17 cents per share, according to Thomson Reuters.

Also read: Stelco reports earnings of $125 million in Q3 in sharp jump from last year


Share in social networks:

Comments - 0