As stated in Previous Quarter presentation, the Company eyes teen digit growth. Net income of $67 million and adjusted net income(1) of $70 million; compared to net income and adjusted net income of $35 million from the same period in 2019 (Impressive stats)
FROM ER release:
Net sales for the second quarter of 2020 were $1.6 billion, a 16% increase compared to the same period in 2019. Net sales growth was driven by continued demand from the COVID-19 pandemic, contributing to a 9.1% increase in comparable store sales and strong performance in new stores opened.
Gross profit for the quarter increased 32% to $613 million, resulting in a gross profit margin of 37.3%, an increase of 450 basis points compared to the same period in 2019. The increase was driven by strategic changes in our promotional activities, partially accelerated by the COVID-19 environment, coupled with cycling deep promotions from the prior year, as well as outsized shrink improvement from operational efficiencies and positive leverage from additional sal
more information can be found here:
Partnerships may be on the horizon. The company needs to go from strength to strength. Improve their margins considerably.
Stores are opening quickly. Not sure if they have developed a growing customer base that is loyal though.
Same store Growth may continue as consumers become more health conscious. Expansion in south coast as the likely region in which potentially the company may expand.
Fact sheet on key financial data released in previous quarter:
This is not financial advice , please consider your own Due Diligence and Risk Management.