Perfect Moment, Ltd. reported receiving notice of acceptance from NYSE American of the company’s plan to regain compliance with the exchange’s continued listing requirements. The plan reportedly details the company’s strategy to regain compliance with continued listing standards for stockholders’ equity by June 11, 2026.
The exchange notified the London-based luxury skiwear and lifestyle brand on December 11, 2024, and again on March 4, 2025, regarding the company’s stockholders’ equity, which currently stands below the required threshold due to reported losses in recent fiscal years. These notifications and the subsequent acceptance of the company’s plan to regain compliance with the exchange do not impact Perfect Moment’s current trading status, daily operations, or SEC reporting.
“Acceptance of our compliance plan by NYSE American provides us a clear pathway to regaining compliance,“ stated Perfect Moment President and Chief Creative Officer Jane Gottschalk. “We are actively pursuing a number of strategic initiatives aimed at strengthening our financial position and delivering greater value to our shareholders.”
These initiatives reportedly include expanding into the larger and faster-growing luxury outerwear market, broadening its brand appeal with consumers from the ski slope to the city, and extending its traditional fall/winter selling season throughout the year. The company also recently announced the strengthening of its production and management team with key hires from Canada Goose to support growth and market expansion.
Chath Weerasinghe, the company’s new CFO and COO, who recently joined from Canada Goose, commented: “We continue to make significant progress across our margin expansion projects, which has included the opening of our first U.S. distribution center. This new center has enabled us to improve our operating efficiency and customer experience while lowering duty cost and outbound and return shipping cost for the U.S. market.”
As a result of these lower costs, the company said it reported a gross margin improvement of 273 basis points for the fiscal third quarter.
Image courtesy Perfect Moment, Ltd.
