Business
Naples Soap Company Reports Record Revenues Driven by Same-Store Sales Increases
Naples Soap Company Reports Record Revenues Driven by Same-Store Sales Increases.
About this update from Naples Soap Company Inc.
[{"type":"text","content":"\nNaples Soap Company, Inc. (OTCQB: NASO), (“the Company”), a pioneering health and wellness brand that offers high-quality skin and hair care products throughout the United States, today announced key performance metrics for the 5-month tourism season from November 1, 2023 to March 31, 2024 in Southwestern Florida, where most of the Company’s physical retail stores are located.\n\n\nRevenues increased to $6.4 million for the 5-month period, a $1.1 million or 21% rise, as compared to $5.3 million during the same period in 2022-2023. Gross margins grew to 76% during the 2023-2024 season, as compared to 70% in the prior year’s 5-month tourism season. Operating expenses decreased by 1% as compared to the prior year, resulting in an increase in net profit for the 5-month period ended March 31, 2024.\n\n\n“Our expanding, well formulated and curated product line appeals to customers across the board, from our long-time brand loyalists to new shoppers alike, both online and in our physical stores. Higher average transaction-per-customer at our physical stores, combined with a recovered and now robust post-hurricane Ian Florida economy, were the drivers for our substantial increase in same-store sales,” stated Naples Soap Company Founder and CEO, Deanna Wallin.\n\n\n“We have a fantastic team, from the friendly, knowledgeable staff at our physical stores, all the way to our executives at headquarters. Together, we are excited to launch numerous growth initiatives this year through new product lines, formulations, and distribution channels, all with the aim of providing wellness-conscious people with naturally better skin and self care products,” Wallin concluded.\n\n\nFor more information about Naples Soap Company’s products visit www.naplessoap.com.\n\n\nInvestors are welcome to visit www.ir.naplessoap.com.\n\n\nAbout Naples Soap Company, Inc.\n\n\nFounded in 2009 by Deanna Wallin, Naples Soap Company is a supplier of more than 400 bath, body and personal care products. Products are sold at the Company’s 13 retail locations in Florida and online at www.naplessoap.com, through other DTC (direct-to-consumer) channels such as Amazon.com and in more than 300 boutiques, spas and stores throughout the United States via the Company’s wholesale division. For more information abou...