my guess is $0.25. Look up igourmet reviews, there are a lot of recent ones that indicate they treat their customers as bad as their shareholders.
The only thing they have in their favor is that foodservice (their only business that makes money) is coming back strong. With strong price inflation and if they maintain their margins a lot of that could fall to the bottom line (or help mitigate the unending investment in ecom).
I think the pandemic actually hurt their ecom business - there are a lot more options to order online from. As I review their pricing, assortment, and shipping rates - their pricing is WAY above competition, their assortment seems to be less unique than it once was, and their shipping charges are way above what I see from competitive sites. Its concerning if they can't make money with high prices and high shipping fees in a pandemic...
They've just proven to be horrible allocators of capital.. Fresh Diet aside.. why would you pay a premium for igourmet, a business that's burning cash and whose owners have racked up tons of credit card debt trying to keep it alive. Oh, and what happened to those synergies of servicing some of the traditional IVFH customers out of the igourmet facility... I can't imagine there are many high-end restaurants now in West Pittston. I would always take interest on the CFS of their $10-200k "Investments" in synergistic food companies. Taking debt/equity positions as if they are a food accelerator when in reality it is most likely vendors that were going bankrupt. They used to have a list of these on their website, it was an oddball assortment.. ostrich eggs, honey, pickles - which I know they do specialty, but if you reviewed the websites of these companies I'm not sure you'd invest. On the last Q they wrote off $200k of these investments (due to the ceasing of operations from the passing of the founder).
