Calculating Percentage Change in Sales Over Years
What is the percentage change from 2023 to 2024?
To calculate the percentage change from 2023 to 2024, we use the formula: ((New Value - Old Value) / Old Value) * 100. In this case, the percentage change is (($2.64 million - $2.54 million) / $2.54 million) * 100.
Percentage Change from 2023 to 2024:
The calculation for the percentage change from 2023 to 2024 is as follows:((2.64 - 2.54) / 2.54) * 100 = 3.94%
Therefore, the percentage change from 2023 to 2024 is 3.94%. This indicates an increase in sales from the previous year.
What is the percentage change from 2024 to 2025?
To calculate the percentage change from 2024 to 2025, we use the same formula: ((New Value - Old Value) / Old Value) * 100. Here, the percentage change is (($2.44 million - $2.64 million) / $2.64 million) * 100.
Percentage Change from 2024 to 2025:
The calculation for the percentage change from 2024 to 2025 is as follows:((2.44 - 2.64) / 2.64) * 100 = -7.58%
Therefore, the percentage change from 2024 to 2025 is -7.58%. This indicates a decrease in sales compared to the previous year.
Why is calculating percentage change important for analyzing sales performance?
Calculating percentage change is important for analyzing sales performance as it helps in understanding the trend and performance of the company's sales over time. Positive percentage changes indicate growth, while negative changes indicate a decline in sales.