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Healthy Choice Wellness Corp. Class A (HCWC+5.48%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations, including its focus on providing healthier daily choices through its subsidiaries, which operate natural and organic grocery stores and wellness centers.
The company reported sales of $69.4 million for 2024, an increase from $55.7 million in 2023. This growth was primarily driven by acquisitions and the expansion of existing operations.
Operating expenses for the year were $28.8 million, down from $30.9 million in the previous year, reflecting cost management efforts and a decrease in impairment charges.
Net loss for the year was $4.5 million, an improvement from a net loss of $9.9 million in 2023, attributed to increased sales and improved cost management.
The company completed a spin-off from Healthier Choices Management Corp. in September 2024, becoming an independent, publicly traded company.
Healthy Choice Wellness Corp. entered into a $7.5 million loan agreement to support its expansion plans, with a portion used for the acquisition of GreenAcres Market.
The company operates in the natural and organic grocery and dietary supplement industry, with a focus on high-quality products and customer service.
The company continues to focus on expanding its store base, increasing sales from existing customers, and creating new revenue streams.
The company acknowledges challenges in the competitive retail market but believes its focus on quality and customer education provides a competitive advantage.
The filing also discusses the company's efforts to improve internal controls and address identified material weaknesses, including those related to cybersecurity and financial reporting.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Healthy Choice Wellness Corp. Class A annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.