Retail sales have been resilient despite high unemployment and the paring down of debt by households. The brightening economic picture, particularly a nascent labor market recovery, is encouraging consumers to dip into their savings to fund purchases of goods.
Forecasts for The U.S. March retail sales report, due out Wednesday, April 14 at 8:30 a.m., range from +0.5 pct to +3.0 pct.
Economists at Moody’s say first quarter consumption is shaping up to be the strongest since early 2007 and a rise in sales would add to evidence the manufacturing-led recovery is broadening out.
Tootie Pie Company (OTCBB: TOOT) announced that March 2010 unit sales jumped 27%, versus March, 2009. “Coming on the heels of a 10% gain for January and February, I am very pleased with a 27% gain for March,” said Don Merrill, President & CEO. “We also logged about a 50% increase in revenues, which were helped by sales from our two new Gourmet Cafés.”
“We are experiencing sales increases across all of our selling channels and are especially encouraged by our wholesale foodservice and grocery sales growth. We continue to be very happy with the percentage of pie sales occurring in our Tootie Pie Gourmet Café, as those sales come at much higher retail profit margins,” Merrill added.
Tootie Pie Company recently reported its best overall quarter in the company’s history. 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 in 2008.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate, and wholesale. The retail segment serves individual customers through sales in its our Tootie Pie Gourmet Café, in-store sales, orders via telephone and internet on the Company’s website.
As consumer confidence and demand continue to improve, 2010 is shaping up to be a very strong sales year for Tootie Pie Company.
Small Cap Voice (SCV) is an electronic publication, and is for informational purposes only. The stocks profiled by SCV are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. SCV is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.