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Thursday, November 13, 2014 2:34:33 PM
For all of 2014 - the Company has essentially been selling the dolls at cost - here are the numbers straight from the quarterly report:
Sales (9 months) = $34,860
Cost of Sales (9 monts) = ($34,861)
Gross Margin = ($1)
That's right, you read that correctly - after the company has spent (literally) millions of dollars in promotion to get their product in HEB stores, Sears/Wayfair/Dollgenie/Walmart websites - the fruits of their labor is negative one dollar!
Getting one's foot in the door at Walmart is no small feat, but at what cost? Does the company continue to follow the Walmart mantra of slashing prices to get volume? OWOO has no room to cut the price any more than it has - the financial statements prove they are already at the breakeven point! Selling a zillion dolls at no margin results in no profits.
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