Canadian firm Roots posts sales of $37.5 mn in Q1 FY24

Roots reported Q1 FY24 sales of $37.5 million, down from $41.5 million in Q1 FY23.
DTC sales fell to $31.4 million due to lower off-price sales.
The gross margin was stable at 59 per cent, with DTC gross margin rising to 62.1 per cent.
Net loss increased to $8.9 million, adjusted EBITDA loss was $8.0 million.
Inventory decreased by 30 per cent.Roots reported Q1 FY24 sales of $37.5 million, down from $41.5 million in Q1 FY23.
DTC sales fell to $31.4 million due to lower off-price sales.
The gross margin was stable at 59 per cent, with DTC gross margin rising to 62.1 per cent.
Net loss increased to $8.9 million, adjusted EBITDA loss was $8.0 million.
Inventory decreased by 30 per cent.