Tofutti Brands has reported an increase in losses for the first nine months of the year.

The US dairy-free firm posted a net loss of US$526,000 for the period ending 3 October, compared with $248,000 a year earlier. Losses before income tax also increased to $518,000 from $242,000.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Tofutti reported a drop in gross profit and gross margins due to a “substantial increase” in promotional sales allowances.

Nine-month sales fell to $10.4m from $10.6m in the corresponding period a year earlier. Tofutti said the lower sales was due to a decline in sales in the first quarter of the year.

It reported a 12% rise in sales in the third quarter, when its net sales hit $3.7m. 

See Also:

Tofutti saw its bottom line improve in the third quarter, reporting a net loss of $126,000, down from $164,000 a year earlier.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

David Mintz, chairman and CEO said: “While we recorded a small loss for the quarter, our principal product lines continued to show consumer acceptance. Sales of soy-cheese products increased by 18% and frozen desserts sales increased by approximately 8% as compared to the comparable period in 2014. We have reduced expenses while focusing on expanding sales of our non-dairy cheese products and frozen dessert and food products. Price increases instituted earlier in 2015 should provide improved gross margins during the remainder of the year.”