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Maison Solutions Inc. (Nasdaq: MSS) is a leading specialty grocery retailer based in the U.S., dedicated to offering traditional Asian food and merchandise, particularly serving the Asian-American communities. Established in 2019, the company has rapidly grown by acquiring equity interests in four traditional Asian supermarkets in the Los Angeles area, operating under the brand name HK Good Fortune.
Core Business: Maison Solutions provides a wide array of fresh produce, meats, seafood, and other daily necessities that reflect traditional Asian-American family values and cultural norms. They offer unique Asian vegetables and fruits such as broccoli, bitter melon, winter gourd, Shanghai baby bok choy, longan, and lychee, catering to both traditional and modern consumer needs.
Recent Achievements: Maison Solutions completed its Initial Public Offering (IPO) in October 2023, generating gross proceeds of $10 million. This milestone was followed by a private placement in November 2023, which further strengthened their financial position for future growth.
Current Projects: The company has recently undertaken store renovations, including the El Monte store, which is set to provide a contemporary shopping experience. Additionally, the company is on track to open a flagship 37,000 square-foot store in Rowland Heights, California, later this year, expected to be one of the largest and most advanced Asian grocery supercenters in the state.
Technology & Efficiency: Maison Solutions has invested in a robust visualization display management software suite, optimizing store design, layout, and display. This technology aids in AI-driven decision-making, inventory management, and remote inspection, significantly reducing costs and improving efficiency.
Financial Condition: For the fiscal 2024 second quarter, Maison Solutions reported total revenues of $13.8 million. Although there was a slight decrease from the prior-year quarter, the company showed resilience with a net income of $91,000. The first six months of fiscal 2024 saw an increase in total revenues to $27.5 million, supported by the acquisition of Maison Monterey Park and improved perishable goods revenues.
Partnerships & Expansion: In April 2024, Maison Solutions acquired Lee Lee Oriental Supermart, Inc., a three-store supermarket chain in Arizona. This strategic acquisition, expected to add $70 million in annual revenue, aligns with their growth strategy through acquisitions in regions with large Asian and ethnic populations.
Outlook: Maison Solutions aims for continued expansion through organic growth, strategic acquisitions, and leveraging technology to enhance store operations. The company's commitment to maintaining cultural norms while adapting to modern lifestyles positions it well for future success.
Maison Solutions (NASDAQ:MSS) has completed the renovation of its El Monte store, marking the first in a planned series of renovations across multiple HK Good Fortune locations. The renovated store will operate as a warehouse store, offering bulk purchase discounts and a modernized shopping experience. Key improvements include updated SKUs with in-demand products at competitive prices and a new visual identity system. Following the renovation, the store has experienced significant sales improvement, setting a positive precedent for future location upgrades.
Maison Solutions Inc. (NASDAQ:MSS) reported strong financial results for Q1 2025, marking the first full quarter with Lee Lee included. Total net revenues increased 115.6% to $29.6 million, primarily driven by Lee Lee's $18.2 million contribution. Gross profit rose to $8.3 million with a 27.9% margin, up from 22.6% last year. The company achieved net income of $700,000, compared to a $105,000 loss in the same period last year. Maison Solutions is optimizing Lee Lee's operations by streamlining its supply chain and leveraging synergies between stores. The company reiterated its fiscal year 2025 guidance, projecting revenues between $120-125 million and positive net income.
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