DavidsTea Inc. sales fall $1.5M in first quarter

MONTREAL – DavidsTea Inc. saw sales slip in its most recent quarter, despite a gain in tea sales online and at grocery stores.

The Montreal-based company says its sales for the first quarter were $44.3 million — down $1.5 million or 3.3 per cent from $45.8 million in the same quarter the previous year.

E-commerce and wholesale sales rose 9.3 per cent or $600,000.

Its net loss for the quarter ended May 4 was about $4 million or 15 cents per share compared to $1.2 million or five cents per share in the first quarter of 2018.

Interim CEO Herschel Segal says the company is “confident that our ongoing initiatives will lead to a return to positive sales in the near future.”