Post by
randomtask on Mar 30, 2021 7:46am
Margins Drop to 2.4%! - Lying Lhama Promised Improvements
Directly from the MD&A - Q4 margins drop from just under 10% to 2.4%!
Lying Lhama - tell us about how great the margins were for Black Friday / Cyber Monday??
Comment by
Moetown1 on Mar 30, 2021 7:52am
So margins got worse when they are supposed to get better?
Comment by
Namascam on Mar 30, 2021 7:59am
I see 2 mil on 25m net revs, approx 8% Still, a step in the wrong direction... I too expected far better margins considering Meni told us "the discounts are pass-through from our vendors" which was a total lie, and we see the proof right here. If the discounts were given at the vendor level, we would have seen margin improvements, not further destruction.
Comment by
randomtask on Mar 30, 2021 8:36am
That was for the entire year.... Q3 - 9.7% ( i think); Q4 - 2.4%. Margins at 2019Q4 were actually twice as high... so while revs have improved, margins in 2020 are down 50% over 2019... Profitability just went out the window for this year for sure and likely 2022 unless they can quarterly revs to $250M from $7M