01.20.17
Joey New York reported revenue of $178,181 for the three-month period ended November 30, 2016. On a pro-forma basis, for the nine months ended November 30, 2016, the Company generated revenue of $356,237.
Pro-forma results are adjusted to reflect revenue earned by Reflex Productions ("Reflex") prior to its acquisition by JOEY on August 11, 2016, whereas GAAP revenue results are based only on consolidated operations from the date of acquisition.
Joey Chancis, CEO, says, "Our top line results, on a GAAP basis, provide a snapshot of the potential for our LABB business, our new injectable-only concept suites. It's important to note that Reflex only began significant operations during the August quarter, and our two new LABB locations in Florida opened in third quarter."
"Regarding our expansion efforts, we're accomplishing and meeting the goals on our checklist," continued Chancis. "We're executing on our growth strategy and we're enhancing overall operations with marketing campaign optimization, staff training, and the addition of top-level, seasoned executives. We believe we are on the right path to rapidly scale the business and boost profit margins higher."
The LABB opened its first location in South Beach / Miami, FL in May 2016, in a cool, hip and trendy neighborhood off Purdy Avenue. The Company has since opened additional locations in Daytona Beach, FL and Ft. Lauderdale, FL and expects to expand to Southern California, Las Vegas, and New York over the next 18 months.
The LABB's retail approach makes Injectables easy and affordable, enabling consumers to avoid invasive and costly surgical procedures.
Pro-forma results are adjusted to reflect revenue earned by Reflex Productions ("Reflex") prior to its acquisition by JOEY on August 11, 2016, whereas GAAP revenue results are based only on consolidated operations from the date of acquisition.
Joey Chancis, CEO, says, "Our top line results, on a GAAP basis, provide a snapshot of the potential for our LABB business, our new injectable-only concept suites. It's important to note that Reflex only began significant operations during the August quarter, and our two new LABB locations in Florida opened in third quarter."
"Regarding our expansion efforts, we're accomplishing and meeting the goals on our checklist," continued Chancis. "We're executing on our growth strategy and we're enhancing overall operations with marketing campaign optimization, staff training, and the addition of top-level, seasoned executives. We believe we are on the right path to rapidly scale the business and boost profit margins higher."
The LABB opened its first location in South Beach / Miami, FL in May 2016, in a cool, hip and trendy neighborhood off Purdy Avenue. The Company has since opened additional locations in Daytona Beach, FL and Ft. Lauderdale, FL and expects to expand to Southern California, Las Vegas, and New York over the next 18 months.
The LABB's retail approach makes Injectables easy and affordable, enabling consumers to avoid invasive and costly surgical procedures.
