TSXV:RYU.H - Post by User
Post by
OldManWinteron Nov 29, 2016 7:34pm
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Post# 25530869
Quarterly numbers are out
Quarterly numbers are outRevenue of 362K.
Company acknowledges online growth
Company admits to keeping inventory levels low
Notes
We believe that RYU is positioned in the heart of the Urban Athletics market as our brand is the new standard of tailored innovation for the urban athlete. Overall, RYU continues to be in a stage of investment as we went live with the new RYU on November 27, 2015. Yeartodate 2016 we have started to build the scale of the business to a profitable level by operating our Flagship store on West 4th avenue in Vancouver and by entering into three new retail store leases in Vancouver and one in Toronto. The results of the new RYU have been encouraging with continued sales growth for the nine months ended September 30, 2016 generating a 51% gross profit despite the fact that we have kept inventory purchases to a minimum and that our ecommerce sales in the USA and Canada have been mostly organic. This is drastically different from our activities in 2015 when our team was busy creating the new brand and liquidating the old RYU inventory. Gross profit for the nine months ended September 30, 2015 of 79% was due to the fact that the old RYU inventory had been written down to nil on December 31, 2014.