I will read the filings a little more in depth later when I have some time.
Do we know if the 126k of case sales represents repeat orders or all initial sales? Would want to caution if those sales are initial orders as that number would be pipeline fill at the retailer and actual forward sales could be significantly lower.
Also I will look closer later but do they list their copacking costs or can we figure it out through the filings? Would like to know a true margin if possible.
Safeway is a large retail customer. Have sold beverages through them for many years now. They are an expensive retailer to do business with and to keep branded products on the shelf though. Have seen them drive a lot of volume as well as products that don't move very well at all. So could be good but not guaranteed.
1 million cases this year is not unattainable but seems high to me based upon experience.(But again I am not independently wealthy yet so apparently I don't have it all figured out) Just need to understand the margin better and EBITA. I still think it calculates out under the current market cap even if 1 million cases sold. So the question comes down to future growth potential and distribution options.
Interesting about Costco. Costco does require a lower price but the volume that they can move is 10 times most other retailers. Is their current margin not enough to offset the lower price though volume? Being in the beverage industry for almost 20 years now, you want to get penetration into Costco. Volume increases dramatically, you can then usually leverage your manufacturing costs, raw materials etc.
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