From the NGTF CEO Sean: if your guys want to pull straight from release, please use highlights. If they want to paraphrase or summarize, these are approved phrases:
- Nightfood producing more ice cream to meet increased demand
- Nightfood same-store sales up, more ice cream needed
Nightfood Q1 Supermarket Sales Highest in Company History – New Production Run Scheduled for Week of March 23rd
TARRYTOWN, NY, March xx, 2020 (GLOBE NEWSWIRE) – Nightfood, Inc. (OTCQB: NGTF), the better-for-you ice cream recently recommended as the Official Ice Cream of the American Pregnancy Association (APA), announced today that a sharp increase in recent supermarket reorder velocity has reduced inventory of certain flavors to replenishment levels.
For the week ending Friday, March 6th, the Company received orders for twelve pallets of product, almost all of it to refill existing retail partners. Each pallet contains approximately 2,000 pints of Nightfood ice cream.
This has been a record quarter for supermarket reorder volume. In addition, a significant amount of product has been shipped to distributors and wholesalers for new supermarket chains adding Nightfood this month.
“We’re pleased to see same-store sales velocity increase sharply, and expect it to continue as awareness begins to grow within the pregnancy community,” commented Nightfood CEO Sean Folkson. “On one hand, regular production runs will become business as usual. At the same time, we wanted to provide information about this specific production run to investors because we reported substantial inventory levels just a few weeks ago. We are now running low on certain flavors. The recent surge of supermarket reorders necessitated this production run, which will consist of Full Moon Vanilla, and Cookies n’ Dreams, which has clearly emerged our top selling flavor for now.
To date, Nightfood has manufactured eight flavors of its award-winning ice cream. As with any new brand offering multiple flavors, velocity patterns begin to emerge over time, making it easier to maintain optimal inventory levels. In addition to certain flavors eventually becoming more popular with consumers than others, the flavor selection of retailer partners has an impact on SKU by SKU inventory requirements as well. This is especially true in young, fast-growth brands.
“With our footprint rapidly multiplying, and the pregnancy demand starting to kick in, we’re on the lookout for changes in velocity by flavor,” added Folkson. “Cravings are specific biological signals. Certain flavors may connect more powerfully with the cravings that drive pregnancy ice cream consumption. As a result, we may find the more distinct flavors like Cold Brew Decaf, After Dinner Mint Chip, or Midnight Chocolate exhibit significant uptrend in consumption.”
In addition to Jewel-Osco, the 188-store division of Albertsons that will begin stocking Nightfood later this month, the brand will be available in two other major regional chains in the coming weeks, one of which will stock seven flavors in most of their 150+ stores. The other new chain is expected to start with three or four flavors of Nightfood. Harris Teeter, a division of Kroger, has seven Nightfood flavors available in most of their approximately 260 stores, and Lowe’s Foods has four flavors available in each of their 79 stores.
