On Thursday, Giggles N Hugs Inc (OTCQB: GIGL) started its trading session with the price $0.01 and closed at price of $0.01 by scoring 1.48%. Day range of the stock was $0.01 – $0.01. GIGL stock traded with total volume of 212000 shares while the average trading capacity remained 138168 shares. Earnings per share was $0. GIGL has total market capitalization of $2314258.
Giggles N’ Hugs (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, reported record results for its quarter ended March 31, 2019.
First Quarter 2019 Highlights:
Net sales up 14% to a record $699,226
Record store-level profits of $152,990 up over 360% from $41,750 in the prior year period
Record store-level margins of 21.9%, up over 320% from 6.8% in the prior year period
Approaching breakeven; Net loss decreased 47% to $127906
“It was a huge quarter for us anyway you measure it, and we feel we owe it to both the weather and our proven and unique concept,” stated Joey Parsi, Founder and co-CEO of Giggle N’ Hugs. With net sales up an impressive 14% versus the prior year, we are excited about the future. On the store level, we achieved over $150k in store-level profits, or EBITDA, up over 360%, as compared to prior year period, a record and a milestone for the company. Below is a more detailed break out of the revenue and expenses, between store level and corporate, showing that the Company achieved historic and record store level margins of 21.9%, up over 320% compared to 6.8% in the prior year period, getting us closer to break even, even after absorbing corporate and overhead costs.”
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