Business
Naples Soap Company Announces Third Quarter Results
Naples Soap Company Announces Third Quarter Results.
About this update from Naples Soap Company Inc.
[{"type":"text","content":"\nNaples Soap Company, a subsidiary of the GNS Group, Inc. (OTC: GNSG), a specialty retailer known for its high-quality skin care, today announced financial results for the third quarter of 2021.\n\nDespite the worldwide impact of COVID-19, Naples Soap Company has continued to experience strong sales as the natural beauty industry, fed by consumer demand for natural products, continues to trend favorably. Over the past twelve months, from fourth quarter of 2020 to third quarter of 2021, the Company has experienced a 48% increase in total sales reaching over $10 million in sales for the annual period. Sales increases by revenue stream for the past 12 months were up as follows: store sales up 57.9%, wholesale sales up 35.0%, e-commerce sales up 24.2% and Amazon sales up 200.9%.\n\nCompany profit for the past 12 months was $1,420,815 and total operating profit for the past twelve months was $1,005,900.\n\nFor the Third Quarter of 2021\n\n“We’re pleased with our results through the third quarter of 2021. The natural beauty space continues to grow, and we’ve seen an increase in demand from new shoppers and repeat purchasers both online and in stores as well strong sales from our wholesale customers,” said Deanna Wallin, Naples Soap Company Founder and CEO.\n\nTotal sales for the third quarter of 2021 were $2,262,402 which represents a 49% increase over 2020 and a 5.4% increase over projected third quarter sales of $2,147,000. Historically, the third quarter is the Company’s weakest quarter in terms of sales volume and profit, due to normal seasonality of the period. The Company experienced a $26,716 loss for the third quarter, an improvement from the projected loss of $62,879, and an improvement from the third quarter loss of 2020 of $103,445.\n\n“July through September has always been our slowest quarter. Seasonally, people are shopping less, and our Florida stores see less foot traffic during the hot summer months,” stated Wallin. “With that said, our brick and mortar sales were up 80.6% over the third quarter of 2020. Likewise, wholesale orders were up 50.0% and product sales through Amazon were up 70.9%.”\n\nProduct Update\n\nDuring the third quarter, Naples Soap Company launched a number of new products including an expansion to the Vitamin C face and body care line, more tha...