DAVIDsTEA (DTEAF) has released an update.
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DAVIDsTEA Inc. has reported a decrease in first-quarter sales for fiscal 2024 to $13.4 million, a 6.1% drop, coupled with a net loss of $2.6 million. Despite challenging economic conditions, the company is focused on expanding its in-store presence and is optimistic about their new cold brew sparkling iced tea collection targeting North America’s ready-to-drink market. They also reported an improved gross profit margin and are pursuing cost-reduction strategies while maintaining growth opportunities.
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