Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current

News

VOXX Says Retail Environment Remains Challenging; Market Pressures Expected To Continue

Author: Benzinga Newsdesk | July 10, 2024 04:10pm

Commenting on the Company's first quarter results, Pat Lavelle, Chief Executive Officer stated, "During the first quarter, we took aggressive steps to improve gross margins and lower both our operating expenses and working capital needs. While our sales were down for the comparable periods, gross margins improved in our Automotive and Consumer segments, and we reduced year-over-year expenses by over 16%. The retail environment remains challenging, interest rates are high, and inflation is still a major concern. With market pressures expected to continue, we have instituted various restructuring programs to right size our business. We are equally focused on reducing our debt and freeing up capital to re-invest in VOXX. With the changes made and upcoming, we expect to return to profitability this year."

Posted In: VOXX

CLASS ACTION DEADLINES - JOIN NOW!

NEW CASE INVESTIGATION

CORE Finalist