NetworkNewsBreaks – Home Bistro Inc. (HBIS) Anno
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Posted On: 09/15/2022 5:03:15 PM
NetworkNewsBreaks – Home Bistro Inc. (HBIS) Announces Q3 2022 Financial Results
Home Bistro (OTC: HBIS), a leading online meal delivery platform that offers celebrity chef-inspired, gourmet and lifestyle ready-made meals, today released financial results for its third quarter ended July 31, 2022. “In addition to our ongoing menu expansion of celebrity chef meals over the past several quarters, we have also undertaken the following initiatives, which we expect to have a net positive effect on gross margin growth moving forward: reduced royalty payments to newly added celebrity chefs; reduced product costs; established new multi-tier pricing; commenced charging a fee for shipping; reduced product promotions,” said Home Bistro CEO Zalmi Duchman. “We’ve significantly reduced our administrative expenses and general reliance on costly outside consultants and service providers. In addition, while we experienced a modest decrease in revenue due to the consolidation of our West Coast operations into our main facility in South Florida, the cost savings benefit of which over the long-term is expected to far outweigh any recoverable short-term revenue loss.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Home Bistro (OTC: HBIS), a leading online meal delivery platform that offers celebrity chef-inspired, gourmet and lifestyle ready-made meals, today released financial results for its third quarter ended July 31, 2022. “In addition to our ongoing menu expansion of celebrity chef meals over the past several quarters, we have also undertaken the following initiatives, which we expect to have a net positive effect on gross margin growth moving forward: reduced royalty payments to newly added celebrity chefs; reduced product costs; established new multi-tier pricing; commenced charging a fee for shipping; reduced product promotions,” said Home Bistro CEO Zalmi Duchman. “We’ve significantly reduced our administrative expenses and general reliance on costly outside consultants and service providers. In addition, while we experienced a modest decrease in revenue due to the consolidation of our West Coast operations into our main facility in South Florida, the cost savings benefit of which over the long-term is expected to far outweigh any recoverable short-term revenue loss.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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