Company: SWAGW
Filing Date: 2025-01-22
Form Type: 10-K/A
Source: 0001213900-25-005516
Chunk: 87

Company: Stran & Company, Inc.
Filing Date: 2025-01-22
Form: 10-K/A
Chunk 87
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 August 2022, Premier NYC in December 2022, and T R Miller in June 2023 accounted for approximately $15.1 million, or 19.9%, of sales, for 2023, compared to approximately $6.8 million, or 11.7%, of sales for 2022, as described in more detail immediately below. 45 The January 2022 acquisition of G.A.P. Promotions generated approximately $4.3 million of sales for the year ended December 31, 2023, compared to approximately $5.7 million from such assets for the year ended December 31, 2022. The August 2022 acquisition of Trend Brand Solutions generated approximately $2.5 million of sales for the year ended December 31, 2023 compared to approximately $1.1 million from such assets for the year ended December 31, 2022. The December 2022 acquisition of Premier NYC generated approximately $1.3 million of sales for the year ended December 31, 2023, compared to no sales from such assets for the year ended December 31, 2022. The June 2023 acquisition of T R Miller generated approximately $7.0 million of sales for the year ended December 31, 2023, compared to no sales from such assets for the year ended December 31, 2022. Our recurring organic sales, defined as sales excluding revenue from the G.A.P Promotions, Trend Brand Solutions, Premier NYC, and T R Miller acquisitions, increased 19.2%, or approximately $9.8 million, to approximately $60.9 million for the year ended December 31, 2023, from approximately $51.1 million for the year ended December 31, 2022. Cost of Sales Our total cost of sales increased 20.4% to approximately$51.1 million for the year ended December 31, 2023, from approximately$42.5 million for the year ended December 31, 2022. As a percentage of sales, cost of sales decreased to67.3% for the year ended December 31, 2023 from73.4% for the year ended December 31, 2022. The increase in the dollar amount of cost of purchases and freight was primarily due to an increase in sales of 31.3% from period to period. Gross Profit Gross profit consists of sales less total costs of sales. Our gross profit increased