RET reported Q1 loss per share of $0.08. They generally report a weak first quarter. Revenues came in at $165.0 million, up from $153.9 million in the first quarter of fiscal 2023. A gross margin of 51.2% came in lower than the 54.6% reported in 1QFY2023. Negative net income and accounts payable ate into operating cash flow. Due to seasonality, the free cash flow has been inconsistent. The company is showing a good growth trendline after a weak pandemic period and as such valuations are improving, although from the lowest point. The management shift is intereresting. The company now has its first non-family CEO. Ms. Limbardi though has good experience and it is probably time for an outside CEO, considering the company's recent troubles. Family run businesses do often have 'issues'. The stock had a good run after its restructuring, but shares are well down from the high. It is cheap, and there are no analysts following the company. The financial position is much improved here, but we would not expect huge growth considering the current environment.
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