The soft drinks group Clearly Canadian Beverage said distribution changes and a weak economy were to blame for a net loss for the first quarter of US$628,000.
The company reported sales of US$3,152,000, compared with net income of US$64,000 on sales of US$5,418,000 for the same period in 2002.
The figures reported were for continuing operations, following the sale of a number of business assets in February last year.
Douglas L. Mason, president and chief executive officer of Clearly Canadian Beverage said: “For 2003 our guiding business strategy is simple: to attempt to increase sales by improving our distribution system, either by entering into new distribution partnerships in key consumer markets or by building on existing relationships. We are working closely with our distribution partners to open and service retail accounts to expand the availability of our brands. We believe that we are making significant progress in strengthening our distributor base, although we anticipate it may take some time before we see all of the potential benefits of these new initiatives with our distribution partners.”
