Retailer Roots reports $10.8M Q3 profit, up from $10.3M profit a year ago

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Published December 14, 2021 at 8:32 am

TORONTO — Clothing retailer Roots Corp. says it earned $10.8 million in its latest quarter, up from a profit of $10.3 million in the same quarter a year earlier.

The company says the profit amounted to 25 cents per diluted share for the 13-week period ended Oct. 30, compared with a profit of 24 cents per diluted share a year earlier.

Sales in what was the company’s third quarter totalled $76.3 million, up from $72.9 million in the same quarter last year.

On an adjusted basis, Roots says it earned 28 cents per share in the quarter compared with an adjusted profit of 27 cents per share the third quarter of 2020.

Analysts on average had expected an adjusted profit of 21 cents per share and $77.8 million in revenue, according to financial markets data firm Refinitiv.

Roots chief executive Meghan Roach says the company is well-positioned to capitalize on the fourth-quarter holiday season and prepared to meet consumer demand with healthy inventory levels in-store and online.

This report by The Canadian Press was first published Dec. 14, 2021.

Companies in this story: (TSX:ROOT)

The Canadian Press

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