CHERRY HILL, N.J., Oct. 03, 2023 (GLOBE NEWSWIRE) -- The Real Good Food Company, Inc. (Nasdaq: RGF) (“Real Good Foods” or the “Company”), a leading health and wellness frozen and refrigerated food company, today released the U.S. SPINS retail scanner performance data across all its products from the most recent period ending September 10th, 2023(1). For perspective, SPINS data captures consumption data in the Food, Drug and Mass retail channel, which represents approximately 50% of the Company’s sales.
Real Good Foods posted record dollar sales of $9.94 million in the four-week period ending September 10th, representing 27% growth compared to a year ago. For perspective, both the $9.9 million and 27% year over year growth represent significant acceleration compared to the 13, 26 and 52 week period. Furthermore, the company continues to expect the growth rates to continue to accelerate for the remainder of the year owing to the strong momentum.
- The overall Frozen category (2) was down 0.4% over the four-week period.
- The Health & Wellness Frozen Food subcategory (2), which includes Health and Wellness focused brands like Real Good Foods, grew modestly at 0.7% over the four-week period.
- The Real Good Foods brand in total grew 27% over the four-week period compared to a year ago, and 73% compared to two years ago.
- Real Good Foods base product velocities grew 20% compared to a year ago and total distribution points (TDP’s) grew 13% compared to a year ago.
Bryan Freeman, Executive Chairman at Real Good Foods, said: “These results demonstrate the rapidly growing Consumer and Retailer demand for our products across all our strategic platforms – Breaded Chicken, Global Entrees, and Breakfast. Consumers are realizing that by buying our products, they can enjoy the foods they love without loading up on sugar or processed carbohydrates. Today, 88% of U.S. consumers are struggling with metabolic health conditions related to diet, and it is important these consumers have healthier options. Our mission is to drive access and simply help people feel better every day, and live healthier lives.”
Sources: 1. SPINS Total US MULO, excluding Costco, dollar sales for 4-week ending September 10th, 2023 2.The “Overall Frozen Category” and “Health & Wellness Frozen” category excludes Frozen and Refrigerated Meat, Poultry & Seafood.
About The Real Good Food Company
Real Good Foods (NASDAQ: RGF) is a leading health and wellness frozen and refrigerated foods company, providing a better way to enjoy your favorite foods. The Company’s mission is to provide “Real Food You Feel Good About Eating”, making delicious, nutritious foods that are low in sugar, low in carbohydrates and high in protein. The Real Good Foods family of products includes breakfast, lunch, dinner, and snacks – available in over 16,000 stores nationwide with additional direct-to-consumer options.
To learn more, please visit our website at realgoodfoods.com or join us on social media @realgoodfoods – where we maintain some of the largest followings in the frozen food industry today.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding its projected financial results, including net sales, adjusted gross margin, and adjusted EBITDA and its ability to increase production at its new facility, improve profitability and meet its long-term growth objectives. The Company has attempted to identify forward-looking statements by using words such as "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," or "would," and similar expressions or the negative of these expressions.
Forward-looking statements represent management's current expectations and predictions about trends affecting the Company’s business and industry and are based on information available as of the time such statements are made. Although the Company does not make forward-looking statements unless it believes it has a reasonable basis for doing so, it cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause its actual results to materially differ from those expressed or implied by these forward-looking statements are described in the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2022. In addition, readers are cautioned that the Company may make future changes to its business and operations in response to the impacts of the COVID-19 pandemic, supply chain disruptions and macroeconomic challenges, or in response to other business developments, which changes may be inconsistent with the Company’s prior forward-looking statements, and which may not be disclosed in future public announcements.
Media Relations Contact
AJ Stiffelman
AJ@realgoodfoods.com
Investor Relations Contact
Akshay Jagdale
(856) 955-1453
ir@realgoodfoods.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/875181a7-3dcb-499d-82e9-56218343d986
