Roots (ROOT.TO) reported fiscal second quarter adjusted net loss of CA$0.08 per share, compared with adjusted net loss of CA$0.09 per share a year earlier.
Total sales for the quarter ended Aug. 1, was CA$49.5 million compared with CA$50.8 million a year earlier.
The company had previously announced that it entered into an arrangement agreement under which Marquee Brands, through its operating partner JM&A Design and Development Inc, would acquire Roots.
The transaction, expected to close in the fourth quarter of fiscal 2026, is subject to shareholder, court and regulatory approvals, said the company. The company incurred CA$1.0 million in incremental consulting and legal costs related to this process, in the second quarter, it said.
In a separate release, Roots said Friday it filed materials for a special shareholder meeting scheduled for Oct. 13 to vote on the previously announced acquisition by Marquee Brands, through JM&A Design & Development, for C$4.10 per share in cash.