Business
Lifeway Foods, Inc. Announces 16.6% Sales Increase for Second Quarter Ended June 30, 2021
Company delivers seventh consecutive quarter of year-over-year net sales increases MORTON GROVE, Ill., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Lifeway Foods, Inc.
About this update from Lifeway Foods, Inc.
[{"type":"text","content":"Company delivers seventh consecutive quarter of year-over-year net sales increases\nMORTON GROVE, Ill., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), the leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today reported financial results for the second quarter ended June 30, 2021. “I am proud to report that the second quarter of 2021 marked yet another consecutive quarter of year-over-year growth, highlighted by our strong 16.6% increase in net sales when compared to the second quarter of 2020,” commented Julie Smolyansky, Lifeway’s President and Chief Executive Officer. “Throughout the quarter, we remained focused on advertising and customer acquisition strategies with elevated digital engagement and marketing programs, including our first Spanish-language campaign. This increased marketing, combined with the improving execution of our previously outlined Lifeway 2.0 strategy, have contributed to our accelerating growth. I am excited for the remainder of 2021, as current consumer trends towards healthy eating alongside the continued efficient execution of our growth strategy should provide a strong platform for Lifeway moving forwards.” Smolyansky added, “I would also like to highlight two pivotal events that indicate Lifeway’s commitment to growth. On July 1, 2021, we announced the brand’s first expansion of kefir distribution into the French market with our first listing in France. We are very excited to capitalize on this expansion, and the French market is a perfect target, as fermented dairy foods like kefir have been prevalent in the country’s diet for generations. In addition, on August 3, 2021, we announced the intended acquisition of the assets of GlenOaks Farms. GlenOaks’ product offering includes six different flavors of their popular, probiotic drinkable yogurt, a tremendous strategic complement to our kefir products. The acquisition further solidifies our position in California and the West, and we look forward to integrating the GlenOaks brand and expanding its reach.” A pre-recorded conference call and webcast with Lifeway CEO Julie Smolyansky discussing these results with additional comments and details will be available on August 16, 2021 at approximately 9:00 a.m. ET. The webcast will be available over the Internet thr...