Good day FRYS Membership,
Like our Minnesota Timberwolves stayed hot last night, FRYS charitable gambling is smokin’ hot at Boxers! I am starting to feel like a broken record with similar commentary every month but results are results, and the results show another record setting month that was March 2024 on three separate fronts.
Kicking things off in the digital realm, e-tabs posted a robust $160K in sales revenue for the month for the second highest recorded total in FRYS’ history just after December 2023’s $166K. Unfortunately, the ides of March took hold for FRYS as the gross profit margin collapsed to 12.35%, the lowest ratio for FRYS in the 2023/2024 campaign (average YTD = 15.45%); however, strong sales volume still resulted in a quality gross profits of $20K coming home to FRYS (YTD average = $19.5K).
If you recall just a few short months ago the FRYS’ paper tabs operation was in the doldrums as the first five months of the 2023/2024 campaign averaged paper tab sales of a meager $48K a month but that trend was usurped last month when FRYS paper tab sales posted a two standard deviation move with sales of $93K for the second highest total in history. Well, if last month's a two-standard deviation performance, which had just over a 5% chance of occurring, did not entertain you (cue Russell Crow in Gladiator) then how about a three-standard deviation performance for March 2024! A three standard deviation move is less than a 1% chance based on FRYS’ paper tab performance to put the significance into context. Paper tab sales exploded to a new record of $110K in March, crushing last month’s $93K by a whopping 18%. No doubt incredible news but just like the legendary infomercial sales Billy Mays (RIP) exclaimed:
Gross profits from paper tabs rose right alongside sales, totaling a new record $22K (YTD average = $10K) on a powerful margin of 20.4% (YTD average = 18.2%). Said differently, gross profits from paper tab sales eclipsed that of e-tabs for the first time since July 2022, nearly two years ago. The incredible performance resulted in FRYS cutting its largest rent check ever to Boxers (rent is a function of paper tab performance).
The working rationale for last month’s rebound in paper tab sales to $93K was the surge in Bingo activity at a record total of $20K in February but that theory might not be true as Bingo sales retreated to $14K in March 2024, breaking the correlation. Bingo reproduced solid gross profits of $3K (YTD avg = $3K) on a margin of 21.76% (YTD avg = 18.95%).
Robust e-tab sales, record setting paper tabs and solid Bingo activity joined together to establish a new monthly sales total at Boxers of $285K, demolishing the prior record of $223K by 28%! Incredible sales volume is all fine and dandy but sales are not what gets invested back into local youth endeavors, that my friends is profits, and profits were generated this month to the tune of $11K.
FRYS has helped our state government maintain budget surpluses as the organization cut a check for $14K to St. Paul last month, which will rise even higher for April at a new FRYS record of $15K. We are going to need a flurry of activity at Boxers over the course of April to help support earnings when $15K is headed to the bureaucracy regardless of performance.
In other FRYS news, the ball is in motion to stabilize the structure at the Rotary Camp via a foaming installation for a reasonable $3,500. The next step is ensuring the rodents do not get back under the building so FRYS is looking at installing a fence around the structure to keep the animals at bay. No word on that cost yet. Even though he is miles away, Dave Beranek has been coordinating such operations at the camp as he recovers from his surgery as there is no rest for the weary.
Go play some pull-tabs at Boxers this weekend!
Chad