Business
Marley Coffee Announces Anticipated Results of Operations for Its Third Fiscal Quarter – Growth Anchored by 35% National ACV/ ~11,000+ Grocery Retail Stores
Marley Coffee Announces Anticipated Results of Operations for Its Third Fiscal Quarter – Growth Anchored by 35% National ACV/ ~11,000+ Grocery Retail Stores.
About this update from Jammin Java Corp.
[{"type":"text","content":"\n\n DENVER, Nov. 11, 2015 (GLOBE NEWSWIRE) -- Jammin Java Corp. (d/b/a Marley Coffee) (OTC:JAMN) (www.marleycoffee.com), the sustainably grown, ethically farmed and artisan-roasted gourmet coffee company, provides a summary of its unaudited anticipated financial results for the three months ended October 31, 2015 and its plans for the remainder of the current fiscal year. \n We believe we are in a great place in terms of positioning the company for continued growth. According to syndicated data, our ACV has grown to 35% nationally, which represents ~11,000 US grocery stores where our products are sold. With this widespread footprint, the objective for the rest of this year and into 2016 is to continue expanding by adding more SKUs to our existing accounts, increasing consumer pull through and developing new channels. Our recyclable EcoCup capsules started shipping at the very end of July and we have almost cycled through most of the old packaging at retail. This has taken a little bit longer than we anticipated, but based on the positive feedback from retailers and customers as well as some preliminary sales information, EcoCup has had a very positive impact on the business. We’ve even been nominated by the Nexty Awards and Beverage Awards for our innovation and packaging. Our preliminary data has shown that EcoCup by themselves have helped with incremental growth in accounts like Market Basket and Kroger. We’ve got lots of planned marketing activities for EcoCup in Q4, specifically at store level with shopper marketing programs such as aisle tags, larger signage coupled with an array of digital marketing campaigns. Preliminary Anticipated Financial Highlights for the Fiscal Second Quarter (three months ended Oct 31, 2015): Financial Highlights Continued Revenue Growth - Revenue is anticipated to be ~$3.25 million for the quarter ended October 31, 2015, which is approximately a 14% increase year-over-year from the quarter ended October 31, 2014. This is the 18th quarter in a row of year-over-year revenue growth and our largest quarter to date in sales revenue. This increase was driven by the expansion of the company’s retail base and the launch of EcoCup.Net Revenue – Net revenue is anticipated to be ~$2.9 million for the quarter ended October 31, 2015, which is an increase of 15% from the same peri...