Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 198

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 2
Chunk 198
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 a percentage of sales, cost of sales increased
to 70.5% for the three months ended September 30, 2024 from 67.5% for the three months
ended September 30, 2023. The increase in the dollar amount of cost of sales was primarily
due to the increase in sales of 2.4% from period to period. For the Stran segment, the decrease was primarily due to
a decrease in sales of approximately $3.0 million for the reasons described above. For the SLS segment, the increase was due to
the acquisition of the Gander Group Assets in August 2024.

Gross
Profit

Gross profit and gross margin percentages by segment
and in total were as follows:

    Three Months Ended
    September 30,  
       
    Three Months Ended
    September 30,  
       
    Increase / (Decrease) 

    2024  
    % of Total  
    2023  
    % of Total  
    $  
    % 
  
    Stran 
    $5,294  
     88.9% 
    $6,399  
     100.0% 
    $(1,105) 
     (17.3)%
  
    SLS 
     658  
     11.1% 
     —  
     —% 
     658  
     100.0%
  
    Total gross profit 
    $5,952  
     100.0% 
    $6,399  
     100.0% 
    $(447) 
     (7.0)%

Gross profit
consists of sales less total costs of sales. Our gross profit decreased 7.0% to approximately
$6.0 million, or 29.5% of sales, for
the three months ended September 30, 2024, from approximately $6.4 million,
or 32.5% of sales, for the three months ended September 30, 2023.
For the Stran segment, the decrease in the dollar amount of gross profit was due to a decrease in sales of approximately $3.0 million
for the reasons described above, which was partially offset by a decrease in cost of sales of approximately $1.9 million for the reasons
described above. The decrease in gross profit