Naples Soap Company Inc.
Common Stock
0.01
-0.0059
-37.11%
0.009 / 0.01 (14900 x 33700)
Real-Time Best Bid & Ask: 05:00pm 05/07/2024
Delayed (15 Min) Trade Data: 01:07pm 05/07/2024
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Naples Soap Company Reports Record Revenues Driven by Same-Store Sales Increases
Press Release | 05/07/2024
Naples 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.
Revenues 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.
“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.
“We have a fantastic team, from
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