E-commerce platform operator 4Less Group Inc (OTCMKTS:FLES) has not had a great time in the stock markets over the course of the past week and during that period, it has declined by as much as 11%. Yesterday, the company was in focus after it announced its financial result for the second fiscal quarter that ended on July 31, 2021.
In addition to that, 4Less also provided the projections for revenues in the current fiscal year that is going to end on January 31, 2022. In the second fiscal quarter, the net sales for 4Less came in at $2,927,209, which worked out to a decline of as much as 12% from the net sales of $2,586,673 in the prior year period.
However, at the same time, it is perhaps also necessary to keep in mind that in the six months that ended on July 31, 2021 the net sales actually went up 28% year on year to $6,315,457 from $4,927,280. However, one of the most important announcements from the company yesterday was its projection that it was going to generate revenues in the range between $13 million and $14 million in the fiscal year. That is going to reflect a rise of 62% to 75% from last year’s results.