DAVIDsTEA Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 29, 2022
December 14, 2022 at 02:37 am IST
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DAVIDsTEA Inc. reported earnings results for the third quarter and nine months ended October 29, 2022. For the third quarter, the company reported sales was CAD 16.18 million compared to CAD 22.2 million a year ago. Net loss was CAD 4.72 million compared to CAD 1.86 million a year ago. Basic loss per share from continuing operations was CAD 0.18 compared to CAD 0.07 a year ago. Diluted loss per share from continuing operations was CAD 0.18 compared to CAD 0.07 a year ago.
For the nine months, sales was CAD 51.67 million compared to CAD 64.2 million a year ago. Net loss was CAD 11.53 million compared to net income of CAD 76.84 million a year ago. Basic loss per share from continuing operations was CAD 0.44 compared to basic earnings per share from continuing operations of CAD 2.92 a year ago. Diluted loss per share from continuing operations was CAD 0.44 compared to diluted earnings per share from continuing operations of CAD 2.79 a year ago.
DAVIDsTEA Inc. is a Canada-based company, which offers a specialty branded selection of loose-leaf teas, pre-packaged teas, tea sachets, tea-related accessories and gifts through its e-commerce platform at www.davidstea.com and the Amazon Marketplace. Its wholesale customers, which include over 3,800 grocery stores and pharmacies, and 18 Company-owned stores across Canada. Its geographic segments include Canada and the U.S. The Company offers primarily tea blends, as well as traditional single-origin teas and herbs. It provides various types of tea, including herbal tea, green, black, white, matcha, rooibos, oolong, Pu'erh and mate. Its tea-related accessories include teapots, teacups, large cups and cups Nordic, travel cups and cups, infusers and other accessories. It offers autumn teas, iced teas, favorites, teas from garden to cup, classic teas, lunch teas, vegan teas and others. It offers teas by flavor, including chai, pumpkin, chocolate, vanilla, mint and others.