Business
Edible Garden Reports 19.4% Year-Over-Year Revenue Growth for Third Quarter of 2023
Continues expansion of retail distribution network across the U.S. Pulp Line of Fermented Gourmet Sauces Expands to New York and St. Louis Markets with ‘Bland
About this update from Edible Garden Ag Incorporated
[{"type":"text","content":"Continues expansion of retail distribution network across the U.S. Pulp Line of Fermented Gourmet Sauces Expands to New York and St. Louis Markets with ‘Bland to Bold’ Flavors Self-Watering Display Promises to Revolutionize In-Store Plant Presentation Enhancing Infrastructure and Refining Data Analytics Aimed at Boosting Profit Margins Conference Call to Be Held Today at 8:00 AM ET BELVIDERE, N.J., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today provided a business update and reported financial results for the three months ended September 30, 2023. Mr. Jim Kras, Chief Executive Officer of Edible Garden, stated, \"We are pleased to report year-over-year revenue growth of 19.4% for the third quarter of 2023. We believe this growth is a testament to our growing distribution network and quality produce that customers trust. We continue to be a leader in our industry, in terms of both service and reliability. Additionally, Edible Garden is enhancing its infrastructure and refining its data analytics capabilities, as we pursue opportunities to boost profit margins. As a result, more retailers are turning to Edible Garden for their organic and sustainable produce needs.” “The Company has been steadily expanding our relationships with existing retailers, and adding new retailers to our network, thereby broadening our footprint and reinforcing our status as a premier provider in the industry. As an example, we partnered with Woodman’s Markets, which introduced Edible Garden produce and products to their 19 stores throughout Wisconsin and Illinois. This addition to our retail distribution network significantly enhances our Midwest presence and positions us to utilize our Edible Garden Heartland facility in Grand Rapids, Michigan. Additionally, Tops Friendly Markets has joined the Edible Garden distribution network, featuring our sustainable herbs across their 149 locations in New York, Pennsylvania, and Vermont. In addition, as we have previously reported, the Company expanded its relationship with Walmart to provide a wider variety of Edible Garden’s sustainably grown produce in their Northeast locations, as well as initiating distribution in th...