Business
RUM Reports Q2 2019 Consolidated Financial Results
EDMONTON, AB / ACCESSWIRE / August 27, 2019 / Rocky Mountain Liquor Inc. (TSXV: RUM ) (the &...
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"RUM Reports Q2 2019 Consolidated Financial ResultsEDMONTON, AB / ACCESSWIRE / August 27, 2019 / Rocky Mountain Liquor Inc. (TSXV:RUM) (the “Company” or “Rocky Mountain”), listed on the TSX Venture Exchange (the “Exchange”), today reported its financial results for the three month and six month periods ending June 30, 2019.The Company has continued to succeed at its objective to grow market share through its rebranding strategy. For the six month period ending June 30, 2019, the Company operated 29 stores with average sales per store of $726,972. This is an increase of 13% in average sales per store when compared to the same period in 2018 where we ended the period with 32 stores and an average of $645,031 sales per store.The Company began transitioning to the Great Canadian Liquor brand (“GCL”) two years ago in Q2, 2017. Since that time, we have rebranded 15 locations, lowering prices, improving promotions and social media interaction, increasing selection and focusing on providing an exceptional customer experience. GCL has continuously exhibited growth in revenue each quarter, and the Company remains focused on delivering efficiency and process improvements while managing operating costs. The Company will continue its focus on providing customers an exceptional shopping experience.KEY OPERATING AND FINANCIAL METRICSFinancial highlights, year over year 3 month comparison:Sales increased to $12.0M (2018 - $11.9M) with 29 stores operating this period, versus 32 in 2018EBITDA increased to $947,479 (2018 - $338,055) after retrospective application of IFRS 16 in 2019Net loss reduced to $23,224 (2018 - $316,270)Gross margin percentage increased to 22.2% (2018 - 21.2%)Financial highlights, year over year 6 month comparison:Sales increased to $21.1M (2018 - $20.6M) with 29 stores operating this period, versus 32 in 2018EBITDA increased to $1,210,488 (2018 - $207,671) after retrospective application of IFRS 16 in 2019Net loss decreased to $722,721 (2018 - $896,764)Gross margin percentage is 21.8% (2018 - 22.3%)Detailed information in the form of the Company’s interim consolidated financial statements and Management Discussion and Analysis are available under the Company’s profile on SEDAR at www.sedar.com and also on the Company’s website at www.ruminvestor.com...