Reed’s Inc. Provides Fiscal 2021 Guidance
19 Novembro 2020 - 6:45PM
Reed’s Inc. (NASDAQ: REED), owner of the nation’s leading portfolio
of handcrafted, all-natural beverages, today provided financial
guidance for fiscal 2021 and detail on recent syndicated
third-party retail sell-through data.
The Company is providing fiscal 2021 net sales
guidance of $45.8 million to $46.6 million and a gross margin of
32% to 33%. This guidance follows updated fiscal 2020 guidance for
approximately $40.1 million to $40.3 million of net sales and a
gross margin of approximately 30%, which was previously
announced.
The Company is also providing recent syndicated
retail sell-through data. According to data from IRI, sales at
retail for the four weeks ended October 4, 2020 increased 49.4% for
the Reed’s brand and 27.5% for the Virgil’s brand. Year-to-date IRI
data indicates 33.2% growth of the Reed’s brand and 23.0% for the
Virgil’s brand. Additionally, ACV, a measure of distribution, has
increased 7.4% to 39.1 points and velocity is up 8 units, or 34.7%,
while pricing remains strong increasing 9.1% year over year.
About Reed’s, Inc.Established
in 1989, Reed's® is America's number 1 name in Ginger and America’s
best-selling Ginger Beer brand and innovator for decades. Virgil's™
is America's best-selling independent, full line of natural craft
sodas. The Reed's® portfolio is sold in over 40,000 retail doors
nationwide. Reed's core product line of Original, Extra and
Strongest Craft Ginger Beers, along with the Certified Ketogenic
Zero Sugar Extra Ginger Beer are unique due to the proprietary
process of using fresh ginger root combined with a Jamaican
inspired recipe of natural spices and fruit juices. The company
uses this same handcrafted approach in its award-winning Virgil's™
line of great tasting, bold flavored craft sodas and Certified
Ketogenic Zero Sugar Varieties.
For more information about Reed’s, please visit
the Company’s website at: http://www.drinkreeds.com or call
800-99-REEDS. Follow Reed’s on Twitter, Instagram, and Facebook
@drinkreeds.
For more information about Virgil’s, please
visit Virgil’s website at: http://www.virgils.com. Follow Virgil’s
on Twitter and Instagram @drinkvirgils and on Facebook
@drinkvirgilssoda.
Safe Harbor / Forward-Looking
Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, such as the Company’s guidance for 2021 net
sales and gross margin. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including market conditions, risks associated
with the cash requirements of our business and other risks detailed
from time to time in our filings with the Securities and Exchange
Commission, and represent our views only as of the date they are
made and should not be relied upon as representing our views as of
any subsequent date. We do not assume any obligation to update any
forward-looking statements.
CONTACT:
Investor RelationsScott Van Winkle, ICR(617) 956-6736Email:
ir@reedsinc.comwww.reedsinc.com
Reeds (NASDAQ:REED)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Reeds (NASDAQ:REED)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024