Reborn Coffee reports Q3 EPS (30c) vs (45c) last year

Reports Q3 revenue $1.259M vs $1.514M last year. “During the quarter we continued our aggressive global initiatives across Asia, as we continued to face US domestic headwinds in the food and beverage markets,” said Jay Kim, Chief Executive Officer of Reborn. “At our US company-operated retail locations a combination of rising input costs, heightened consumer price sensitivity, and increased capital costs affected gross margins during the quarter. To address these challenges, we continue to optimize operating expenses while maintaining a strong Average Unit Volume comparable to previous periods. We believe our growing international presence, introduction of innovative new products, rapidly expanding online ecommerce sales, and targeted marketing initiatives will deliver on our comprehensive growth strategy in the long term.