IDT Corp - IDT STOCK NEWS

National Retail Solutions (NRS) reported a 11.5% increase in same-store sales for January 2023 compared to January 2022, while sales decreased 6.0% from December 2022, consistent with seasonal trends. The NRS retail network comprises approximately 22,000 terminals across independent retailers, processing nearly $13.6 billion in sales over the past year. The number of items sold rose 7.2% year-over-year, despite a 2.5% month-over-month decline. Price increases for top items moderated to 4.0% annually, down from 5.7% in December. NRS continues to provide insights into retail trends, vital for IDT Corporation (IDT) and its investors.

National Retail Solutions (NRS) reported significant growth in same-store sales for December 2022, with a 9.8% increase year-over-year and a 6.6% rise compared to November 2022. The NRS retail network now has approximately 22,000 terminals across various independent retailers.

For the full year 2022, same-store sales increased 8.2%. Sales in December were boosted by holiday spending, particularly in the beverage and snack categories. The average price of the top 500 items sold rose by 5.7% year-over-year.

In November 2022, NRSInsights reported a 11.4% increase in same-store sales compared to November 2021, but a 4.2% decrease from October 2022. Year-to-date sales showed an 8.3% increase compared to 2021. The number of items sold rose 10.7% year-over-year, though fell 5.1% month-over-month. The average transaction count per store grew by 6.3% annually but decreased 6.4% from October. Average prices for top items increased 4.5% year-on-year, indicating ongoing inflationary pressure.

IDT Corporation (NYSE: IDT) reported strong financial results for Q1 fiscal 2023, highlighting its highest quarterly income from operations since 2015. Key metrics include a 107% year-over-year increase in revenue from National Retail Solutions (NRS) to $17.8 million, and a net income of $11 million compared to a loss of $2.5 million last year. Adjusted EBITDA grew 33% to $24.3 million, while EPS rose to $0.43 from a loss of $0.10. However, consolidated revenue decreased 13% to $322 million, largely driven by a decline in the Traditional Communications segment.

IDT Corporation announces the launch of the NRS B2B Marketplace, an innovative e-commerce platform connecting wholesale distributors and suppliers with independent retailers across the nation. This initiative aims to facilitate better access to wholesale supplies for small-format stores, enhancing inventory management and sales forecasting. With the support of NRS’ in-house delivery service, distributors can efficiently meet the small ordering needs of these retailers. The initiative is led by Pavel Danilov, who brings expertise in inventory management solutions.

IDT Corporation (NYSE: IDT) announced that CFO Marcelo Fischer will present at the Sidoti & Company Small Cap Virtual Investor Conference on December 7, 2022, at 10:45 AM ET. The presentation will cover the company’s operations, strategy, and financial results for the first quarter of fiscal year 2023, ending October 31, 2022. Interested investors can register for the live stream and view the presentation on the investor relations page of IDT's website.

IDT Corporation has announced the release date for its financial results for the first quarter of fiscal year 2023, covering the period ending October 31, 2022. The earnings report will be available on December 5, 2022, at approximately 5:00 PM Eastern Time on its investor relations website. Following this, IDT will host a conference call at 6:00 PM Eastern, where management will discuss results and future strategies, accompanied by a Q&A session for investors. A replay of the call will be accessible until December 19, 2022.

National Retail Solutions (NRS) has partnered with Uber Technologies to enhance delivery services for independent neighborhood retailers. The collaboration will allow retailers within NRS's network of over 20,000 POS terminals across 17,000 stores to offer same-day delivery at no cost. This initiative aims to empower local businesses amid increasing competition from rapid grocery delivery services. NRS’s platform, designed for urban markets, will leverage Uber's capabilities to improve operational efficiency and customer reach, supporting retailers in underserved communities.

NRSInsights reported a significant increase in consumer spending at NRS retailers for October 2022. Same-store sales rose 9.5% year-over-year and 3.6% from September 2022. Year-to-date sales increased 8.2%, and for the three months ending October 31, sales grew 8.6% compared to the same period last year. Items sold increased 8.6% from October 2021, with a 4.1% rise in average prices for popular items. This data reflects strong demand despite ongoing inflationary pressures in the retail market.