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Expected Activity in Over 2,500 Retail Locations to Generate Additional $0.8 Million to $1.1 Million in Quarterly Revenue Beginning In Fiscal Q3 2020
EAST RUTHERFORD, NJ, Sept. 10, 2019 (GLOBE NEWSWIRE) -- MamaMancini's Holdings, Inc. (OTCQB: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated all-natural food products, today announced additional product placements or special merchandising activity in over 2,500 major grocery retailer locations, including Publix Super Markets, Sam's Club (A division of Walmart Inc.), Albertsons Companies and Tops Markets.
The additional sales activity of MamaMancini’s products in the 2,500 retail locations is expected to generate an additional $0.8 million to $1.1 million in quarterly revenue beginning in the third quarter of fiscal 2020. MamaMancini’s has the potential of adding an additional 2,700 locations with these retailers in the next six months, provided consumer acceptance is positive.
“I am pleased to announce these new product placements or increased merchandising activity with additional Tier-1 retailers, further expanding our footprint and helping to bolster our revenues,” said Carl Wolf, Chairman and CEO of MamaMancini’s Holdings, Inc. “Moreover, there is significant growth opportunity in the next six months to more than double the recently announced 2,500 placements with these retailers if consumer acceptance is strong. I look forward to continued execution upon our operational milestones and creating long-term, sustainable value for our shareholders.”
About MamaMancini’s Holdings, Inc.
MamaMancini's Holdings, Inc. (OTCQB: MMMB) is a marketer and distributor of specialty prepared, frozen and refrigerated all-natural Italian foods. MamaMancini’s product portfolio consists of over 20 products including meatballs, lasagna, sausages and other dinner kits, all with beef, turkey and chicken varieties. The Company’s products are sold in over 45,000 locations nationwide, including at well-known retailers such as Walmart, Whole Foods, Kroger, Publix, Costco and Albertsons, as well as through national distributors such as Sysco and United Natural Foods. For more information, please visit www.mamamancinis.com.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2019 and other filings made by the Company with the Securities and Exchange Commission.