Davidstea Inc. (DTEAF) has released an update.
DAVIDsTEA Inc. faced a challenging Fiscal 2023 with a net loss of $13.8 million and decreased online sales, but saw brick-and-mortar growth and is optimistic about new partnerships and wholesale opportunities. The company improved gross profit margins and reduced expenses, and is negotiating a $12 million line of credit to support its strategy and drive towards profitability. Despite market challenges, DAVIDsTEA is focused on innovation in ready-to-drink products and expanding its retail presence.
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