Brand House Collective Q2 Net Loss Widens With Weak Net Sales; Stock Down

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(RTTNews) - The Brand House Collective Inc. (TBHC), a retailer of home decor and furnishings, Tuesday reported a wider net loss for the second quarter amid lower net sales and comparable sales.

The company's net loss widened to $20.18 million from $14.50 million last year. Loss per share was $0.90, compared to loss of $1.11 a year ago.

Adjusted net loss was $17.8 million or $0.79 per share, compared to loss of $13.9 million or $1.06 per share in the prior year quarter.

Adjusted EBITDA was a loss of $14.3 million, compared to a loss of $10.2 million in the prior year.

The company's net sales reduced to $75.79 million from $86.29 million last year.

The weak sales were driven by a 9.7% decline in consolidated comparable sales and a decline in store count of approximately 5%.

On the Nasdaq, the shares are trading 5.2 percent lower at $1.83.