08.12.22
Net sales for Naples Soap Company, Inc., a health and wellness brand that offers high-quality skin and hair care products, climbed 2% from the prior-year quarter.
Sales increased from approximately $2.79 million for the three months ended June 30, 2021 to roughly $2.85 million for the three months ended June 30, 2022.
Total sales for the six months ended June 30, 2022 were approximately $5.77 million compared to approximately $5.26 million for the six months ended June 30, 2021, a 10% increase.
Store sales for the six months ended June 30, 2022 have increased 17%, compared to the six months ended June 30, 2021.
Operating expenses for the three months ended June 30, 2022 increased approximately $553,000, or 32%, compared to the three months ended June 30, 2021. The increase was primarily driven by the company opening a new retail store in March of 2022 in Kissimmee, FL., and the new store expenses for the three months ended June 30, 2022 were $131 thousand.
The company is relocating to a new warehouse space with new administrative offices in September and is currently incurring expenses for both the current and new facilities. The expenses associated with both facilities were $117,000 for the three months ended June 30. The company has added additional warehouse and administrative personnel in anticipation of growth and new store openings. The additional personnel costs for the three-month period ended June 30 were $141,000.
“We are really looking forward to moving into our new warehouse space in September prior to the busy holiday season,” said Deanna Wallin, founder and CEO of Naples Soap Company. “We’ve been busting at the seams for the past few years, so this will allow us to add some efficiencies to the way we store our products, replenish store inventories, and fulfill our e-commerce orders.”