At Quarto, for the first six months of 2020, sales fell $9.5 million to $46.9 million, down 17 percent from the same period a year ago. The adjusted operating loss doubled, to $(1.8) million, though the company’s pre-tax loss was about even, given lower interest costs following their recapitalization in January. Chief executive C.K. Lau said in the release, “The drop in revenue due to the COVID-19 pandemic has led us to initiate a number of cost management initiatives to tightly manage our cash flow.” They “expect the COVID-19 situation to continue to evolve and this prolonged uncertainty will create […]
