Mon, Jul 1, 8:17 PM (68 days ago)
Perfect Moment Ltd., a high-performance luxury skiwear and lifestyle brand, reported revenue of $24,443 for the fiscal year ended March 31, 2024, a 4.3% increase from the previous year. This growth was driven by a 21.4% rise in ecommerce sales, although wholesale revenue decreased by 5.6%. Gross profit increased by $475 to $9,231, maintaining a gross margin of 37.8%. Key strategies include expanding ecommerce, reducing discounting, and improving supply chain efficiencies. The company plans to open third-party distribution centers to lower duty costs and improve margins, with the first center in the U.S. expected in FY25. Future initiatives aim to elevate ecommerce margins above wholesale by FY26. Risk factors include economic downturns, competitive pressures, supply chain dependencies, and cybersecurity threats. The company has no plans to pay dividends, focusing instead on reinvesting earnings for growth.