Business
Yunhong Cti Ltd. Announces Significant Year-Over-Year Increase With Major Retailer in Critical Sell Through for Valentine’s Day 2022
Company expects momentum to build for future holidaysLAKE BARRINGTON, IL / ACCESSWIRE / February 18, 2022 / Yunhong CTI Ltd. (NASDAQ:CTIB) ("Yunhong CTI" or
About this update from Yunhong Green Cti Ltd.
[{"type":"text","content":"Company expects momentum to build for future holidaysLAKE BARRINGTON, IL / ACCESSWIRE / February 18, 2022 / Yunhong CTI Ltd. (NASDAQ:CTIB) (\"Yunhong CTI\" or the \"Company\"), a leading manufacturer of custom film products, foil balloons and novelty balloons, and flexible packaging products, announced strong 2022 Valentine's Day sales data with a major retailer.The Company's Candy Blossom gift items (typically candy with ribbon and a balloon in convenient, ready for gifting arrangement) sold through at an average of 96% this year, compared to an already strong 93% in the prior year. Feedback included many stores completely selling out of their inventories by the end of the day on February 14th. In addition, stick balloon sales were also strong, with 84% sell through this year vs. 79% in the prior year.\"Our strong sell through last year helped generate increased order flow of 27% for this year,\" said Jana M. Schwan, Chief Operating Officer of Yunhong CTI. \"To then outperform those numbers this year is very satisfying to our organization, particularly our creative department in generating highly desirable designs. And I would be remiss not to mention our operations group in successfully addressing the material availability and logistical issues that businesses are forced to deal with today.\"\"This is the strong business that we rallied around,\" said Frank Cesario, Chief Executive Officer of Yunhong CTI. \"With the restructuring of the business largely complete, along with our previously announced new credit facility, we are in much better position to focus on our core business and pursue growth opportunities.\"The Company's preliminary sales data included herein is based on customer reporting. Accordingly, the preliminary sales data included herein may change. The preliminary sales data presented in this press release have been prepared by, and are the responsibility of, our management. The preliminary sales data has not been compiled or examined by our independent auditors nor have our independent auditors performed any procedures with respect to this data or expressed any opinion or any form of assurance on such data. In addition, the preliminary sales data is not necessarily indicative of the results to be achieved for the period ending March 31, 2022 or for any future period. See \"Cautionary Statement Regarding Forward-...