trending Market Intelligence /marketintelligence/en/news-insights/trending/lapMIhgESPJeaKKdtVq0-Q2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

DavidsTea swings to loss in fiscal Q3

Amazon e-commerce sales soar amid COVID-19

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

DavidsTea swings to loss in fiscal Q3

DavidsTea Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 came to a loss of 2 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 4 cents per share.

The per-share result swung to a loss from the prior-year profit of 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$586,880, compared with income of C$885,000 in the prior-year period.

The normalized profit margin fell to negative 1.6% from 3.2% in the year-earlier period.

Total revenue grew 32.3% on an annual basis to C$36.3 million from C$27.4 million, and total operating expenses increased 28.2% on an annual basis to C$37.2 million from C$29.0 million.

Reported net income came to a loss of C$959,080, or a loss of 4 cents per share, compared to a loss of C$240,500, or a loss of 2 cents per share, in the prior-year period.