Apr. 12, 2010 (Baystreet.ca) – With U.S. retail sales figures coming in at record territory just this week, consumers opening up their wallets after years of keeping them shut, are starting to help propel the U.S. economy out of its recessionary hole. One Company that was already doing well during the recession is looking to capitalize on the beginning of this potential upward trend in consumer optimism.
The Company, San Antonio, Texas-based Tootie Pie Company, Inc. (OTCBB:TOOT) announced that their March 2010 unit sales jumped 27% over the same month last year (mind you, March 2009 was the month in which markets hibernated, giving signs they were staying in the cave for some time).
But to indicate this was not a flash in the pie pan, TOOT announced that January and February 2010 unit sales jumped 10% over the same two months in 2009.
Moreover, TOOT reported a net profit of $29,771 on revenues of $910,837 in the last quarter of 2009, compared to a net loss of $30,618 on revenues of $909,741 in the same period of gloomy 2008. In simple math, that’s a $60,389 improvement in the bottom line, or 6.6%.
The company is a rarity among small cap firms in that it has no debt, no convertibles and did not emerge from a reverse merger.
Tootie Pie Company, incorporated in the fall of 2005, bakes and sells high-quality, handmade pies through retail, corporate and wholesale sales channels. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafés, in-store sales, orders via telephone and internet on the Company’s website; corporate serves businesses that purchase pies as a sales promotion; the wholesale segment is made up of distributors who purchase pies and then retail them.
Nor is TOOT resting on its laurels as the weather gets warmer. Its current market coverage includes 15 distributors in 13 states. Through both regional and national distributors, their pies are now served in a multitude of restaurants and offered in high-end grocery stores. For example, in its home state of Texas alone, Tootie Pies are available for purchase at more than 40 HEB stores, the largest grocery chain in the state.
The giddy sales news comes amid general glee in the retail sector, as evidenced by word of a record rise in same-store sales in the U.S. – helped immensely by the help of the Easter bunny and general good tidings in the job market.
Sales at stores open at least a year rose 9.1% in March, the largest monthly jump since Thomson Reuters began tracking results in 2000 and ahead of Wall Street estimates of a 6.3% leap. More than 90% of 28 retailers asked beat expectations.
TOOT’s stock price experienced its 52-week high last May at 40 cents, ducking down to the basement of a dime in January. The profit and sales news – and the good vibes that came off them – lifted the price to 25 cents as the first full week of April drew to a close. This company’s fortunes are getting better – and sweeter – as it is with the rest of the economy, encouraging consumers, and would-be investors, to “dig in” as soon as possible.
Source: Accesswire (April 12, 2010 – 5:50 PM EDT)