Her Imports Reports Full Year 2016 Results
(firmenpresse) - LAS VEGAS, NV -- (Marketwired) -- 04/18/17 -- Her Imports (OTCQB: HHER), a leading retailer of human hair extensions and related beauty products, today reported its financial results for the full year ended December 31, 2016. Revenue for the full year totaled $13.6 million with gross profit margins of 43%.
Barry Hall, Chief Executive Officer of Her Imports, stated, "In 2016, our focus was on growth via retail, low cost, ''pop-up'' locations throughout the United States. We ended the year with 30 locations generating $13.6 million revenue. At our retail locations, our customers receive an intimate one-on-one consultation from our experienced professional staff. After our consumer experiences and purchases our high quality hair and beauty products in person, it is quite common to reorder through our e-commerce platform. Online sales accounted for approximately 25% of revenue during 2016. Since the end of the year, we have opened 5 additional retail locations as well as three kiosks in malls, initially testing each market with minimal risk and increasing the marketing and overhead investment based on the data we collect from consumer demand. By the end of 2019, we anticipate operating 100 retail locations throughout the United States."
Ended the 2016 year with 30 retail locations and has since opened an additional six locations throughout the United States and closed one location
Launched new point-of-sale through three kiosks in highly trafficked shopping locations, utilizing the kiosks as a low-cost leading indicator of the future market opportunity as well as an additional method of acquiring a customer
Announced the strategic hire of renowned celebrity hair stylist as Vice President, Product Development & Marketing
Successfully completed reverse stock split, company name and new ticker symbol change to further enhance and more appropriately reflect the corporate brand
Revenue totaled $13.6 million for the full year 2016, as compared to $13.3 million, an increase of 2%, for the full year 2015. The year-over-year increase in store revenue was partially off-set by a greater decrease in online sales due to the discontinuation of financing sales due to customer.
Gross margin was 43% for the full year 2016, as compared with 50% for the full year 2015. The decrease in gross margin year-over-year reflects the shift to retail sales vs. sales online as a percentage of total sales.
Net loss was $1.8 million, or (0.11) per share, for the full year of 2016, compared with net income of $1.9 million, or 0.13 per share, for the full year 2015. In 2015, the Company received a one-time gain on the sale of subsidiaries in the amount of approximately $1.4 million.
The Company was cash flow positive from operations in 2016. In 2015, the Company generated $948,258 in cash flow from operations however, accounting for the one time gain of approximately $1.4 million, the Company had a cash flow from operations deficit in 2015.
Her Imports sells human hair extensions and related hair-care and beauty products at retail locations throughout the U.S. and on our Website, . Additionally, by way of our proprietary ecommerce platform and strategic leveraging of social media buys, we convert prospects into customers while developing long-term personal relationships and loyal customers.
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Her Imports to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Her Imports assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by applicable securities laws. For more information, please refer to Her Imports'' financial statements as filed with the Securities and Exchange Commission.
Valter Pinto / Allison Soss
KCSA Strategic Communications
Phone: (212) 896-1254 / (212) 896-1267
Email: /
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Datum: 18.04.2017 - 06:00 Uhr
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News-ID 1498909
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