Perfect Moment reports Q3 EPS (15c) vs. (8c) last year

Reports Q3 revenue $11.7M vs. $12.7M last year. “Fiscal Q3 was a milestone quarter for Perfect Moment (PMNT) with the launch of our first retail stores in New York and London,” commented CEO Jane Gottschalk. “This helped us deliver relatively consistent eCommerce revenue compared to the year-ago quarter despite a currently challenging marketplace, with these new stores contributing $516K in the quarter. We also implemented strategies that lowered our marketing expenses by 30% versus the same year-ago quarter, and we further improved our supply chain operations and expanded our global brand awareness…We continue to make significant progress across our margin expansion projects, which has included the opening of our first U.S. distribution center last October…We have been able to lower our duty cost and reduce outbound and return shipping cost for the U.S. market, which represented more than 40% of our revenue in our 2024 fiscal year. As a result of these lower costs, our gross margin improved 273 basis points in the Q3. We anticipate continued gross margin improvement in the current quarter, and ultimately significant improvement for the full year…Looking ahead, we believe our new leadership and growing brand awareness positions us well to capture growth opportunities in the expanding luxury outerwear category. Through a blend of bold creativity and operational excellence, we plan to further expand our global presence, deliver exceptional products, and create greater value for our customers and shareholders.”