Roots reports strong sales during quarter

MONTREAL — Canadian retailer Roots Corp. is on track to meet its forecasted growth for the year despite absorbing a hit from a winter storm in the first quarter of its fiscal year, its chief executive said Wednesday.

Total sales for the quarter ended May 5 were up 5.8 per cent to $51 million, from $48.2 million.

Sales from corporate retail stores and e-commerce channels accounted for $44.2 million, up nine per cent from $40.5 million in last year’s first quarter.

Same-store sales, a key industry metric, increased 6.4 per cent over the same quarter of its last fiscal year, double the 3.3 per cent rate in the first quarter of 2017. It reported a loss of $5.6 million or 13 cents per share, compared with last year’s loss of $5.1 million, or 12 cents per share.