Rocky Mountain Liquor Reports Financial Results for Q1 2024

EDMONTON, AB / ACCESSWIRE / May 23, 2024 / Rocky Mountain Liquor Inc. (TSX-V:RUM) reported its financial results for the first quarter ended March 31, 2024. Despite a decline in sales, the company achieved a higher gross margin of 22.8%, up from 22.2% in Q1 2023, attributed to strategic marketing, pricing, and promotional initiatives.

The company recorded sales of $8.45 million for Q1 2024, compared to $8.61 million in Q1 2023. The net comprehensive loss increased to $365,581 from $290,258, while EBITDAR dropped to $60,579 from $295,899, primarily due to higher operating expenses, including staff salary increments and higher utility costs.

Looking ahead, Rocky Mountain plans to enhance in-store operations by implementing a new point-of-sale system across its locations by the end of Q3 2024. This aims to improve operational efficiency and customer satisfaction. Additionally, the company closed one underperforming store after the end of the quarter.