FORT WASHINGTON, PA — CCA Industries, Inc. (OTC: CAWW), a health and beauty product manufacturer, reported its financial results for the third quarter ending August 31, 2024. The company recorded a net loss of $444,878, a slight improvement from last year’s loss of $452,394, and an improved EBITDA loss of $399,175 compared to $456,962 in 2023.
CEO Christopher Dominello shared that CCA is shifting from traditional retail to a hybrid model focusing on online sales to stabilize revenue. Operating expenses have been reduced significantly from $5.1 million to $2.1 million, while Amazon sales surged from $250,000 to over $5 million.
The launch of CCA’s Neutein brain health supplement faced some distribution issues at CVS, but the company is actively working to resolve these delays and has made progress with Walmart.
To enhance profitability, CCA is consolidating its warehouses to one location in Kansas City, aiming to cut freight costs by 20%. The company also plans to raise prices on its products to improve margins amid pricing pressures.
CCA expects further losses in the fourth quarter during this transition but is optimistic about future profitability driven by successful products like Lobe Miracle, which has seen a 267% sales increase over three years.
As CCA Industries continues its transformation, it remains committed to strengthening its market position as it looks ahead to 2025.
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