Roots Corporation (TSE:ROOT) has released an update.
Roots Corporation reported a slight decline in first-quarter sales to $37.5 million from $41.5 million the previous year, attributed to a strategic reduction in off-price sales due to better inventory management. Despite this, the company saw a steady gross margin and an improvement in direct-to-consumer gross margin, alongside a reduction in net debt by 22.7% and a 30% inventory decrease. These results reflect Roots’ focus on enhancing operational efficiency and financial health.
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