GREY:CHOOF - Post by User
Post by
BadgerUSAon Oct 21, 2020 5:43am
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Post# 31753375
choom financials
choom financialsnot to good, cost of goods higher than revenue, loss of 1 million on revenue, net loss of 1.8 million for March ending 2020. No quarterly statement since then????
2.1 million divided by 15 stores is only $140,000 per store per quarter. Thats average sales of only $11,666 per store per week. I wouldnt even stay open for that. This is a cash burning cow with mangement just working for a pay check. Medmen which is a cash burning cow which is cutting costs and has improved margins averages roughly $104,000 per week per store inclusive of the revenue from their cultivation business.
Dnt see the road to profitability spelled out for Choom. They should just focus on what they have and make it profitable before wasting more money on build out of new loosing revenue stores.
https://www.marketwatch.com/investing/stock/choof/financials/income/quarter