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Posted On: 07/15/2022 12:33:55 PM
Post# of 36265
$RYPPF $RYU RYU Apparel Credits Ecommerce Sales and Wholesale Activity for 175% Increase in 2022 Q1 Earnings
RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYA) ("RYU" or the "Company"
, creator of award-winning urban athletic apparel, has filed its earnings for the quarter ending March 31, 2022. Overall revenue increased 175% over the same period last year while gross profit doubled. This uptick is attributed to a strategic shift toward ecommerce and wholesale activity plus cost-reductions from retail store closures and looser Covid-19 restrictions.
RYU Apparel Inc. logo (CNW Group/RYU Apparel Inc.)
RYU Apparel Inc. logo (CNW Group/RYU Apparel Inc.)
2022 Q1 Highlights:
Revenue hit $347,938, up from $198,825 during the same period last year.
Sales grew 49% compared to Q1 2021, from $175,243 to $261,319.
Gross profit increased from 12% in Q1, 2021 to 25% in Q1, 2022.
Lease obligations decreased with the closure of two retail locations (Toronto, ON and Brooklyn, NY).
https://finance.yahoo.com/news/ryu-apparel-cr...00790.html
RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYA) ("RYU" or the "Company"
, creator of award-winning urban athletic apparel, has filed its earnings for the quarter ending March 31, 2022. Overall revenue increased 175% over the same period last year while gross profit doubled. This uptick is attributed to a strategic shift toward ecommerce and wholesale activity plus cost-reductions from retail store closures and looser Covid-19 restrictions. RYU Apparel Inc. logo (CNW Group/RYU Apparel Inc.)
RYU Apparel Inc. logo (CNW Group/RYU Apparel Inc.)
2022 Q1 Highlights:
Revenue hit $347,938, up from $198,825 during the same period last year.
Sales grew 49% compared to Q1 2021, from $175,243 to $261,319.
Gross profit increased from 12% in Q1, 2021 to 25% in Q1, 2022.
Lease obligations decreased with the closure of two retail locations (Toronto, ON and Brooklyn, NY).
https://finance.yahoo.com/news/ryu-apparel-cr...00790.html
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