24/7 Market News- Maison Solutions Reports Fiscal Q1 2025 Financial Results

September 24, 2024

DENVER, Colo., Sep 24, 2024 (247marketnews.com)- Maison Solutions (NASDAQ: MSS) financial results for its fiscal first quarter 2025, which ended July 31, 2024.

Maison’s first quarter 2025 financial result highlights included total net revenues for the first quarter more than doubling to $29.6 million a 115.6% increase compared to $13.8 million in the same period last fiscal year. The increase was primarily driven by additional revenues from Lee Lee Oriental Supermart, which Maison acquired in April 2024.

Net revenues from perishable goods nearly doubled to $15.2 million, a 96.7% increase compared to $7.7 million in the same period last fiscal year, while net revenues from non-perishable goods for the first quarter increased 139.8% to $14.5 million compared to $6.0 million in the same period last fiscal year.

Gross profit for the first quarter was $8.3 million, with a 27.9%. gross margin, compared to $3.1 million gross profit and 22.6% gross margin for the same period last fiscal year.

Net income for the first quarter was approximately $700,000, compared to a net loss of approximately $105,000 for the same period last fiscal year, and the Company reiterated its net income positive fiscal year 2025 guidance.

John Xu, CEO, President, and Chairman of Maison Solutions, commented, “We are pleased with our financial results for Q1 2025, as it marked the first full quarter with Lee Lee included under the Maison Solutions umbrella.

“We are encouraged by the immediate financial impact Lee Lee has had across all metrics, importantly, gross margins, which improved from 22.6% in the same quarter last year to 27.9%, getting us closer to the coveted 30% goal for our industry. Our organization has taken several deliberate steps in improving Lee Lee’s operations by optimizing its supply chain and tapping into synergies between all stores. In particular, we have commenced streamlining Lee Lee’s supply chain into the HK Good Fortune fold by leveraging our central warehouse in California to supply products which minimize costs, augments economies of scale, and will improve our margins. Looking ahead, we are confident in our ability to hit our guidance targets, sustain profitability, and increase market share within California and Arizona.”

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