By Ian Walker Just Eat Takeaway.com reported a narrowed net loss for last year despite booking a large impairment in its accounts. The Amsterdam-based.
Medical cannabis company cbdMD has reported financial results for its first quarter of fiscal 2024. Operating loss improved to $1.1m compared to $4.1m for the same period in the previous year. Gross profit was flat at around $3.5m, while operating expenses were $4.6m, down from $7.6m in the previous year. Total net sales declined to $5.37m from almost $6m in the corresponding prior-year period. Direct-to-consumer net sales represented 82.3% of total net sales, a decrease from 90% in Q1 2023. On 31 December 2023, cbdMD had total working capital of roughly $1.4m compared to approximately $3.4m on 30 September, with cash on hand dropping to roughly $1.5m from $1.8m over the same period. The Charlotte-based company recently struck a securities purchase agreement with five institutional investors to fund the national rollout of its ATRx Labs functional mushroom products, as well as launching the hempMD and ATRx Labs brands.
The FTSE 100 closed Thursday down 0.43%, its third fall in succession. A combination of rising U.S. yields a decline in U.K. yields notwithstanding and concern over earnings guidance downgrades.
The Indian e-commerce market is the largest opportunity in the Indian internet ecosystem. It is expected to reach USD 133 billion by 2025 from USD 24 billion 2018, the report said Reliance Retail, Reliance Jio To Emerge Winners of India s E-commerce Marketplace in Long Term, Says Berstein Report.