Brief: Roots Corp Posts Qtrly Comparable Sales Growth Of 3.0%

Roots

06/12/2019 12:50

Dec 6 (Reuters) - Roots Corp  ROOT.TO :
    * ROOTS REPORTS FISCAL 2019 THIRD QUARTER RESULTS
    * QTRLY COMPARABLE SALES GROWTH OF 3.0%
    * QTRLY TOTAL SALES OF $86.4 MILLION, COMPARED TO $87.0
MILLION IN
Q3 OF FISCAL 2018
    * QTRLY EARNINGS PER SHARE  $0.05
    * ANNOUNCED THE RESIGNATION OF CHIEF MERCHANT, NANCY LEPLER,
EFFECTIVE IMMEDIATELY.
    * OVERALL BUSINESS PERFORMED BELOW EXPECTATIONS
    * WILL IMMEDIATELY COMMENCE A SEARCH FOR  LEPLER'S
REPLACEMENT.
    * SEES FISCAL 2019 SALES BELOW PREVIOUSLY DISCLOSED RANGE OF
$358
TO $375 MILLION
    * SEES 2019 OUTLOOK SALES BELOW PREVIOUSLY DISCLOSED RANGE
OF $358
MILLION TO $375 MILLION
    * CONTINUE TO FACE INEFFICIENCIES THERE THAT ARE PLACING
DOWNWARD
PRESSURE ON EARNINGS
    * SEES FISCAL 2019 ADJUSTED NET INCOME BELOW PREVIOUSLY
DISCLOSED
RANGE OF $20 TO $24 MILLION
    * NEW U.S. STORES ARE PERFORMING WELL-BELOW EXPECTATIONS &
MACRO-ECONOMIC HEADWINDS CONTINUE TO NEGATIVELY AFFECT ASIA
BUSINESS
    * QTRLY ADJUSTED NET INCOME PER SHARE OF $0.10
    * Q3 EARNINGS PER SHARE VIEW C$0.08, REVENUE VIEW C$88.9
MILLION
-- REFINITIV IBES DATA
    * ENDED QUARTER WITH 115 CORPORATE-RETAIL STORES IN CANADA,
7 IN
U.S., 114 PARTNER-OPERATED STORES IN TAIWAN, 35 IN CHINA & 1 IN
HONG KONG
    * FY REVENUE VIEW C$345.1 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nCNWvDrLma 
Further company coverage:  ROOT.TO 

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