Summary by Moomoo AI
On August 13, 2024, Maison Solutions Inc., a Delaware-incorporated specialty grocery retailer, announced its financial results for the fiscal year ended April 30, 2024. The company, which trades under the symbol MSS on the Nasdaq Stock Market, reported a 4.8% increase in total net revenues to $58.0 million, up from $55.4 million the previous year. This growth was attributed to the acquisition of Lee Lee International Supermarkets and increased sales at the Maison Monterey Park supermarket. Despite the revenue increase, the company experienced a net loss of approximately $3.3 million, compared to a net income of $1.3 million in the previous fiscal year. The loss was due to a decrease in gross profit, an increase in operating expenses, and investment losses. Maison Solutions also highlighted its post-IPO expansion efforts, including the acquisition of Lee Lee and the launch of a Store Renovation Program. For fiscal year 2025, the company expects revenues between $120 million and $125 million and a return to net income positive. The announcement included forward-looking statements and was accompanied by a press release detailing the financial results.
