Post by
johnathamilton on Jun 15, 2023 9:27am
Q4 Results
So basically, with sales growth of only 2.2% overall in the year, with a decline YoY in Q4, the company sales failed to keep up with inflation. Noted the SG&A is up again by 4MM YoY (4% SG&A increase vs 2% sales growth).
The fact that it continues to blame shipping for increased costs is misleading as shipping rates have been at or below 2020 rates for the last 6 months. Perhaps shipping costs have stayed higher for this company, but if that is true, then that speaks to mismanagement.
The company continues to founder under the current leadership
Comment by
longrun86 on Jun 15, 2023 10:07am
I think you nailed it. I've been watching from the sidelines having been a shareholder in the past. The company seems to have good brands but poor Management. They need to be clear to the market what they are doing to turn the business around. This company is ripe for an activist shareholder to come in and shake things up. LR
Comment by
johnathamilton on Jun 15, 2023 10:12am
Thanks - I agree that they have great products. My wife loves their No Boats on Sunday cider. They have great brands. I do hope that an activist shareholder comes on board to help the current ownership unlock the value for everyone's benefit.
Comment by
TheCount11 on Jun 15, 2023 10:51am
Not to pile on but debt has increased. Sooner or later dividend needs to be cut.
Comment by
Stonksonlyup90 on Jun 15, 2023 10:53am
Sounds like a potential sale of Port Moody property in the near future - that should free up a good chunk of cash to pay down debt.