07:14 AM EST, 11/27/2024 (MT Newswires) -- Goodfood Market ( GDDFF ) on Wednesday reported a narrower fourth-quarter loss.

The online grocery and home meals delivery company, said its fourth-quarter net loss narrowed 14% to $3.16 million, or $0.05 per share, from $3.7 million, or $0.05 per share. The improvement wad mainly due to lower wages and salaries and general expenses, the company said.

Net sales for the quarter dropped 9% to $34.1 million. Lower sales was mainly driven by fewer active customers, as Goodfood continues to focus on more profitable clients. The decrease was partially offset by larger average basket size as a result of more portions being added per order, and the additional week of operations during the quarter (14 weeks instead of last year's 13.)