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Maison Solutions | 8-K: Maison Solutions Reports Fiscal 2024 Third Quarter and Nine-Month Financial Results

SEC ·  Mar 20, 2024 03:57

Summary by Moomoo AI

Maison Solutions Inc., a specialty grocery retailer focusing on traditional Asian food and merchandise, reported its financial results for the third quarter and first nine months of fiscal 2024 on March 18, 2024. The company, which is listed on the Nasdaq under the symbol MSS, experienced a decrease in total revenues to $13.6 million for the third quarter, down from $15.6 million in the prior-year quarter. This decline was attributed to increased competition, the end of COVID-19 relief programs, and a temporary slowdown due to renovations at the El Monte store. The company's net loss for the quarter was approximately $549,000, or $0.03 per share, compared to a net income of $988,000, or $0.06 per fully diluted share, in the same quarter of the previous year. Despite...Show More
Maison Solutions Inc., a specialty grocery retailer focusing on traditional Asian food and merchandise, reported its financial results for the third quarter and first nine months of fiscal 2024 on March 18, 2024. The company, which is listed on the Nasdaq under the symbol MSS, experienced a decrease in total revenues to $13.6 million for the third quarter, down from $15.6 million in the prior-year quarter. This decline was attributed to increased competition, the end of COVID-19 relief programs, and a temporary slowdown due to renovations at the El Monte store. The company's net loss for the quarter was approximately $549,000, or $0.03 per share, compared to a net income of $988,000, or $0.06 per fully diluted share, in the same quarter of the previous year. Despite the quarterly loss, Maison Solutions highlighted operational progress, including store renovations and the upcoming opening of a flagship store in Rowland Heights, California. The company also reported an increase in cash and equivalents to $9.4 million as of January 31, 2024, up from $2.6 million at the end of the previous fiscal year, following an initial public offering and a private placement completed in the latter half of 2023.

This announcement is a separate document:

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