03.27.23
Despite inflationary pressures, supply chain issues, changes in consumer spending habits and the negative impact of Hurricane Ian, 2022 total sales for the Naples Soap Company finished ahead of 2021, the company reported today.
Total sales for the year ended December 31, 2022 were approximately $11.1 million compared to approximately $10.9 million for the year ended December 31, 2021, a 2% increase. Total sales for the fourth quarter of 2022 were approximately $3.1 million compared to approximately $3.4 million for the fourth quarter of 2021, a 9% decrease.
“The final quarter of 2022 dealt the company and many other Florida-based businesses with an unprecedented event,” said Deanna Wallin, CEO and founder of Naples Soap Company. “On September 28, 2022, Hurricane Ian made landfall in southwest Florida as a Category 4 hurricane and marched across the state leaving a path of destruction. In our case, four of our 10 stores were flooded with between 18 inches and six feet of flood waters. Additionally, our ‘former’ warehouse lost sections of the roof, and our ‘new’ warehouse and two undamaged stores were without power for days following the storm.”
Wallin added that the challenges were a test of the company’s fortitude.
“Before the winds died down, we put our extensive contingency plans into place and never lost sight of the importance of our pre-planned fourth quarter holiday initiatives,” said Wallin.
Store sales for the year ended December 31, 2022 were $7.9 million compared to approximately $7.7 million for the year ended December 31, 2021, a 4% increase. Three of the company’s busiest stores were closed for hurricane repairs during much of the fourth quarter, and tourist traffic in areas impacted by the storm was also down. These factors had a significant impact on the decrease in fourth quarter store sales. Store sales for the fourth quarter of 2022 were approximately $2.0 million compared to approximately $2.4 million for the fourth quarter of 2021, a 16% decrease.
