FORT WASHINGTON, PA — CCA Industries, Inc. (OTC: CAWW), a health and beauty products manufacturer, reported a net loss of $444,878 for Q3 ending August 31, 2024, which is slightly better than last year’s loss of $452,394. EBITDA improved slightly, with a loss of $399,175 compared to $456,962 in 2023.
CEO Christopher Dominello highlighted the company’s shift from traditional retail to a focus on online sales. This transition aims to stabilize revenue and involved cutting operating expenses from $5.1 million to $2.1 million. CCA also saw its Amazon sales soar from $250,000 to over $5 million, achieving profitable results.
The launch of CCA’s Neutein brain health supplement faced some setbacks, particularly with lower-than-expected orders from CVS. The company is addressing this issue and has made headway with Walmart, having received a “New Item Submission Form” after a recent presentation.
To boost profitability, CCA is consolidating its warehouse to one location in Kansas City, aiming for a 20% reduction in freight costs. The company also plans to increase product prices to improve margins amidst pricing pressures.
Despite these efforts, CCA expects continued losses in Q4 but remains optimistic about future profits, thanks to strong sales growth of successful products like Lobe Miracle, which has increased sales by 267% over three years.
As CCA navigates this transformation, it stays committed to enhancing its market position and improving financial performance as it looks ahead to 2025.
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