Goodfood Market (TSE:FOOD) has released an update.
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Goodfood Market Corp. reports a stable Q2 with $40 million in net sales and a significant year-over-year improvement in net income, reaching $1.4 million. The company’s gross margin hit a record 43%, and its adjusted EBITDA grew to $3.5 million, indicating a strong operating foundation and positive cash flow generation. Despite a challenging economic environment, Goodfood’s strategic initiatives have led to the highest average basket size recorded and a near 70% reduction in net debt to adjusted EBITDA ratio over the past nine months.
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