Business
Rocky Mountain Chocolate Factory Reports Fiscal 2023 First Quarter Operating Results
Company to Hold Quarterly Earnings Calls Beginning July 14, 2022DURANGO, CO / ACCESSWIRE / July 13, 2022 / Rocky Mountain Chocolate Factory, Inc.
About this update from Rocky Mountain Chocolate Factory, Inc.
[{"type":"text","content":"Company to Hold Quarterly Earnings Calls Beginning July 14, 2022DURANGO, CO / ACCESSWIRE / July 13, 2022 / Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) (the \"Company\" or \"RMCF\"), an international franchiser and manufacturer of gourmet chocolates and other confectionary products, today reported operating results for its 2023 first fiscal quarter ended May 31, 2022.FIRST QUARTER HIGHLIGHTS:On May 6, 2022 the Company announced that it had named industry veteran food executive Rob Sarlls, as its Chief Executive Officer, effective on May 9, 2022.Newsweek's list of \"America's Best Retailers 2022\" ranks the Company number one in the Chocolate and Candy Stores category.Total revenue increased 3.1% to $7.8 million during the three months ended May 31, 2022 compared to $7.6 million during the three months ended May 31, 2021.Factory sales increased 2.3% during the three months ended May 31, 2022 compared to the three months ended May 31, 2021, primarily due to a $613,000 increase in sales of product to the Company's network of franchised and licensed retail stores partially offset by a $496,000 decrease in shipments of product to customers outside the network of franchised retail stores.Same store sales at all domestic franchise locations increased 3.9% during the three months ended May 31, 2022, when compared to the three months ended May 31, 2021, with same-store sales at the Company's domestic franchise frozen yogurt cafés increasing 20.5% during the three months ended May 31, 2022, compared to the three months ended May 31, 2021.Royalty and marketing fees increased 6.0% in the three months ended May 31, 2022, primarily due to an increase in same-store sales at domestic franchise frozen yogurt cafés.Net income decreased from $580,000, or $0.09 per basic and diluted share, in the three months ended May 31, 2021, to a net loss of $115,000, or $(0.02) per basic and diluted share, in the three months ended May 31, 2022.Adjusted EBITDA (a non-GAAP measure defined later in this release) decreased from $1,092,000 in the three months ended May 31, 2021, to adjusted income of $927,000 in the three months ended May 31, 2022.The Company's franchisees and licensees opened one domestic Rocky Mountain Chocolate Factory location, four Cold Stone Creamery® co-branded locations, and one domestic U-swirl frozen yogurt café during the three ...