Axil Brands, Inc. (NYSE American: AXIL), a company in the personal care industry, has announced a change in its corporate headquarters. The Board of Directors approved the relocation of the principal executive offices from Alhambra, California, to a new address in Beverly Hills, effective November 1, 2024.
The move, detailed in a recent 8-K filing with the Securities and Exchange Commission, will see the company’s headquarters shift from 901 S. Fremont Avenue, Unit 158, Alhambra, California 91803 to 9150 Wilshire Boulevard, Suite 245, Beverly Hills, California 90212. This strategic change comes as the company, known for its perfumes, cosmetics, and other toilet preparations, continues to evolve its business operations.
Axil Brands, formerly known as Reviv3 Procare Co, has been incorporated in Delaware and operates under the Standard Industrial Classification (SIC) code 2844, which pertains to the manufacturing of beauty products. The company's fiscal year ends on May 31, and it is registered with the IRS under the number 474125218.
In other recent news, AXIL Brands, Inc. has announced a sales representative agreement with Fuel Medical Group, a nationwide business advisory firm. This partnership is aimed at expanding the distribution of AXIL's hearing performance products through Fuel's extensive network. Fuel Medical Group will promote AXIL's product lineup, which includes the GS Extreme 2.0®, XCOR®, XCOR Digital®, and Trackr™ series, across its affiliated locations.
The agreement is expected to benefit AXIL's products, which cater to various needs in hearing protection and enhancement, with Fuel's support services such as group purchasing and staff training. AXIL's National Director of Sales, Tyler Smith, and Brendan Ford (NYSE:F), co-founder of Fuel Medical Group, have expressed enthusiasm for the collaboration. The partnership is set to provide Fuel's over 3,000 affiliated locations with access to AXIL's product line.
InvestingPro Insights
As Axil Brands, Inc. (NYSE American: AXIL) prepares to relocate its headquarters to Beverly Hills, InvestingPro data provides additional context to the company's financial position. Despite the recent announcement, AXIL's stock has experienced significant volatility, with a 39.35% decline over the past three months and a substantial 65.84% drop in the last six months.
However, the company maintains some financial strengths. An InvestingPro Tip highlights that AXIL holds more cash than debt on its balance sheet, which could provide flexibility during this transition period. Additionally, the company boasts impressive gross profit margins, with the latest data showing a robust 72.31% for the last twelve months.
AXIL's P/E ratio (adjusted) stands at 9.32, suggesting the stock may be undervalued relative to its earnings. This aligns with another InvestingPro Tip indicating that the company is trading at a low earnings multiple, which could be of interest to value-oriented investors.
For those considering a deeper dive into AXIL's prospects, InvestingPro offers 7 additional tips, providing a more comprehensive analysis of the company's financial health and market position.
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