Maison Solutions Inc. reported significant financial growth in its latest 10-K filing for the fiscal year ending April 30, 2025. The company achieved net revenues of approximately $124.2 million, marking a 114% increase from $58.0 million in the previous fiscal year. This surge in revenue was primarily driven by the acquisition of Lee Lee Oriental Supermart, which contributed $78.2 million to the total revenue. Despite this growth, the company experienced a net income of $1.17 million, a substantial recovery from a net loss of $3.34 million in the prior year.
The filing also highlighted operational changes, including the strategic acquisition of Lee Lee, a three-store supermarket chain in Arizona, for approximately $22.2 million. This acquisition, completed in April 2024, expanded Maison's footprint and aligned with its center-satellite store model aimed at enhancing logistical efficiency and market reach. Additionally, the company plans to acquire the remaining 90% interest in the Alhambra Store, which is intended to serve as its first satellite store, targeting younger demographics in the area.
Operationally, Maison Solutions reported over 3.8 million annual transactions across its seven supermarkets, with a total employee count of approximately 378 as of April 30, 2025. The company noted a decrease in sales from its California-based supermarkets, attributed to increased competition from nearby Asian grocery stores. However, the overall gross profit rose to $26.3 million, reflecting a gross margin of 21.3%, up from 20.0% the previous year.
Looking ahead, Maison Solutions expressed a commitment to expanding its store network, with plans to invest between $35 million to $40 million in new acquisitions and openings, particularly on the East Coast. The company aims to enhance its operational efficiency and customer engagement through a partnership with JD.com, focusing on digital transformation and improved supply chain management. However, the filing also cautioned about potential risks, including supply chain disruptions and the need for additional capital to support its growth strategy, as the company reported a working capital deficit of approximately $9.82 million as of April 30, 2025.
About Maison Solutions Inc.
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