Roots Releases 4th Quarter Numbers

CBJ — Roots Corporation exceeded expectations as its fourth-quarter revenue grew compared with a year ago and it earned a profit of $18.3 million.

The Toronto-based clothing retailer had sales of $130.8 million, up from $130.0 million in the fourth quarter of its 2017 financial year, which included an extra week.

Excluding the extra week, Roots says sales in the quarter were up slightly more than 3%, while comparable store sales growth also amounted to just more than 3%.

For its full 2018 financial year, Roots reported a profit of $11.4 million or 27 cents per diluted share on $329 million. That compared with a profit of $17.5 million or 41 cents per diluted share on $326.1 million in sales for the previous year.