The company generated operating income of US$1 million in the period with an adjusted EBITDA of US$1.5 million, gross margin of 58.1% and net income of US$0.7 million.
CEO Janet Carr said: “We are pleased with our first quarter operating income of US$1 million despite a slight decline in total sales. Our strategy to manage operating expenses, maintain gross margin and deliver positive cash even in the face of weakening consumer demand is working.
“With a number of unprofitable stores pruned from the fleet over the last year, we believe we’ve made good progress toward our goal to build the business model that delivers sustainable profit and cash and positions us to grow future sales as the demand environment improves.”
