Roots Corp (TSE:ROOT) has released an update.
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Roots Corp reports a slight dip in sales but an increase in gross margin for the fourth quarter and fiscal year 2023. Despite the year-over-year decrease in sales, the company improved its net income in Q4 and continued to strengthen its financial position by reducing net debt and repurchasing shares. Amid economic challenges, the outdoor-lifestyle brand remains optimistic about its growth potential.
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