DavidsTea -19% after earnings disappoint

|By:, SA News Editor

DavidsTea (NASDAQ:DTEA) plunges in premarket trading after the company's Q3 report disappoints.

Comparable sales were down 4.7% during the quarter after the company pulled back on discounting. Gross profit as a percentage of sales fell 60 bps to 42.1%.

Shares of DavidsTea are down 19% to $1.62 (52-week low) to effectively wash out the rally of the last week.

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