iFresh, Inc. Reports Fiscal 2018 Third Quarter Financial Results
iFresh Inc. (IFMK)
US:NASDAQ Investor Relations:
investors.ifreshmarket.com/investor-relations
Company Research
Source: GlobeNewswire
NEW YORK, Feb. 14, 2018 (GLOBE NEWSWIRE) -- iFresh, Inc. (“iFresh” or “the Company”) (NASDAQ:IFMK), a leading Asian American grocery supermarket chain and online grocer, today reported unaudited financial results for the third quarter ended December 31, 2017. Fiscal 2018 Third Quarter Highlights: Total net sales increased $0.9 million, or 3% to $35.9 million, from $34.9 million in the prior year period. Gross profit for the third quarter ended December 31, 2017 increased by 2%, to $7.5 million, compared to $7.4 million in the prior year period. Mr. Long Deng, Chairman of the board of directors and CEO of iFresh, commented, “We are pleased to see an increase in total net sales in the quarter ended December 31, 2017. We reported a net loss this quarter mainly due to the impact of Hurricane Irma and the additional expenses related to four newly acquired stores, three of which are in the process of being renovated and are not yet generating revenue. In addition, due to the warehouse
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