A Roots store in Toronto, on June 12, 2019.Fred Lum/The Globe and Mail
Retailer Roots Corp. ROOT-T reported 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.
The company says its 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 a 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 certain 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.