Here is my 2 cents opinion on quarterly report. Though sales were down 16.28% as compared to last quarter, the company has managed to increase profit margin. This is despite closing some of stores for renovation.
Sales and net cash flow figures for last 2 quarters;
Items, 2014Q4, 2015Q1, difference, difference in %, and net cash flows margin
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Receipts from customer : $21360000 , $17881000,-15745000, -16.28, 16.28%
Net operation cash flows: $3478000, $3134000, -$344,000, -9.8%, 17.56%
Overall, the company's position and balance sheet is better than last year. We still have $29m cash and own 70 stores and own office and warehouse, despite paying $3 (total $10m) debt and spending $2 (total $10) on additional renovation. With nill debt,
we will be saving at least 500k+ in interests on loan. I still expect them to make announce on operation update/quarterly activity, explaining the reason for lower sales.
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