Fuse 10q Three Months Ended March 31, 2019, Com
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Posted On: 05/07/2019 11:17:53 PM
Fuse 10q
Three Months Ended March 31, 2019, Compared to Three Months Ended March 31, 2018
Net Revenues
For the three months ended March 31, 2019, net revenues were $4,770,659 compared to $6,004,048 for the three months ended March 31, 2018, which is a decrease of $1,233,389 or approximately twenty-one percent (21%).
For the three months ended March 31, 2019, Retail Cases increased by one percent (1%) compared to the three months ended March 31, 2018. However, revenues from Retail Cases for the three months ended March 31, 2019, decreased by fourteen percent (14%) compared to revenues from Retail Cases for the three months ended March 31, 2018. We believe this fourteen percent (14%) decrease in revenues from Retail Cases is primarily driven by a reduction in average revenue per Retail Case.
Due to our business strategy of focusing our business on Retail Cases, our Wholesale Cases declined by thirty-three percent (33%) for the three months ended March 31, 2019, compared to Wholesale Cases during the three months ended March 31, 2018. Accordingly, revenues from Wholesale Cases for the three months ended March 31, 2019, declined by twenty-six percent (26%) compared to revenues from Wholesale Cases for the period ended March 31, 2018.
As discussed above in “Current Trends and Outlook,” we believe that as our industry faces increased pricing pressures, we will need to focus on increased volume of Cases to maintain gross profit levels. We intend to increase our Case volume for the three remaining quarters of 2019 by focusing our operations on Retail Cases with our existing retail customer base and adding new retail customers.
Three Months Ended March 31, 2019, Compared to Three Months Ended March 31, 2018
Net Revenues
For the three months ended March 31, 2019, net revenues were $4,770,659 compared to $6,004,048 for the three months ended March 31, 2018, which is a decrease of $1,233,389 or approximately twenty-one percent (21%).
For the three months ended March 31, 2019, Retail Cases increased by one percent (1%) compared to the three months ended March 31, 2018. However, revenues from Retail Cases for the three months ended March 31, 2019, decreased by fourteen percent (14%) compared to revenues from Retail Cases for the three months ended March 31, 2018. We believe this fourteen percent (14%) decrease in revenues from Retail Cases is primarily driven by a reduction in average revenue per Retail Case.
Due to our business strategy of focusing our business on Retail Cases, our Wholesale Cases declined by thirty-three percent (33%) for the three months ended March 31, 2019, compared to Wholesale Cases during the three months ended March 31, 2018. Accordingly, revenues from Wholesale Cases for the three months ended March 31, 2019, declined by twenty-six percent (26%) compared to revenues from Wholesale Cases for the period ended March 31, 2018.
As discussed above in “Current Trends and Outlook,” we believe that as our industry faces increased pricing pressures, we will need to focus on increased volume of Cases to maintain gross profit levels. We intend to increase our Case volume for the three remaining quarters of 2019 by focusing our operations on Retail Cases with our existing retail customer base and adding new retail customers.
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