darwink
Senior Member
If sure this had nothing to do with it:
"With negative year-over-year consumer traffic for Q3 2018, our financial results for the quarter fell well below our expectations," said Jim Gabel, President and Chief Executive Officer of Roots. "We faced significant headwinds due to three main factors: a weaker brand voice in the absence of a large marketing campaign, unseasonably warm fall weather that persisted through approximately two-thirds of the quarter, and lapping one-time Canada 150-related sales recorded in Q3 2017. "
Selling, general and administrative expenses
Selling, general and administrative expenses for Q3 2018 were $42.5 million, up 4.1% compared to $40.8 million in Q3 2017. The year-over-year increase was primarily driven by incremental costs to support a larger retail store footprint as Roots added five net-new corporate retail stores since Q3 2017, as well as strategic investments to drive the long-term growth of the business. Year-over-year, marketing expense increased $0.3 million, the minimum wage increase in Ontario and Alberta accounted for an additional $0.5 million and public company costs were an incremental $0.5 million.
"With negative year-over-year consumer traffic for Q3 2018, our financial results for the quarter fell well below our expectations," said Jim Gabel, President and Chief Executive Officer of Roots. "We faced significant headwinds due to three main factors: a weaker brand voice in the absence of a large marketing campaign, unseasonably warm fall weather that persisted through approximately two-thirds of the quarter, and lapping one-time Canada 150-related sales recorded in Q3 2017. "
Selling, general and administrative expenses
Selling, general and administrative expenses for Q3 2018 were $42.5 million, up 4.1% compared to $40.8 million in Q3 2017. The year-over-year increase was primarily driven by incremental costs to support a larger retail store footprint as Roots added five net-new corporate retail stores since Q3 2017, as well as strategic investments to drive the long-term growth of the business. Year-over-year, marketing expense increased $0.3 million, the minimum wage increase in Ontario and Alberta accounted for an additional $0.5 million and public company costs were an incremental $0.5 million.
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