Analysts are of the view that the company’s bottom line performance improved in the June quarter despite a decline in revenues. The consensus estimate is for a loss per share of $0.86 in the second quarter, compared to a loss of $1.53 per share in the prior-year period. Meanwhile, revenue is expected to decline around 26% from last year to $108.4 million in Q2.
In the first three months of fiscal 2023, net loss narrowed sharply to $59 million or $0.92 per share from $100.5 million or $1.58 per share in the prior-year quarter. Revenues declined 16% year-over-year to $92.9 million in the first quarter. The top line was negatively impacted by a 31% fall in sales at the core Retail segment.