Vancouver, British Columbia--(Newsfile Corp. - October 18, 2024) - Purebread Brands Inc. (TSXV: BRED) ("BRED", "Purebread", or the "Company") is excited to announce its highest September revenue ever which coincides with a significant milestone: one year of ownership of the renowned Purebread Bakery brand ("Purebread Bakery").
BRED has again achieved significant growth, driven by increasing demand across all locations and the successful integration of Purebread Bakery into its portfolio. This achievement is underscored by the Company's strong financial performance, reporting record sales in September 2024. Specifically, sales in September exceeded $1.5 million for the month (or a 127% increase YOY). BRED will announce its third quarter results on or about November 29, 2024.
Additionally, Purebread has continued to grow its online revenue channel, seeing a 30% increase in sales for its Thanksgiving special orders via online transactions. With customers seeking convenience for the holiday season, the demand for Purebread Bakery's signature baked goods increased significantly, demonstrating the Company's ability to adapt and thrive within a new revenue model.
"Our strong September is a testament to the strength of our team, the loyalty of our customers, and the successful integration of Purebread Bakery into our business," said Andrew Barnes, CEO of BRED. "The new online sales milestone for our Thanksgiving offerings show that we're not only growing our in-store presence, but also making waves in the digital landscape."
As BRED enters Q3 with strong demand and continued customer loyalty, the Company is well-positioned to meet increasing consumer demands both in-store and online. With new regions on the horizon and innovative product offerings, the Company continues to set the stage for a strong future.
About Purebread Brands Inc.:
Purebread Brands Inc. is a growing force in commercial real estate and food technology, operating fast-casual cafes, bakeries, and shared-kitchen facilities. Purebread is committed to making a positive impact on the communities it serves.
For more information and updated investor presentation, please visit www.purebreadbrands.com.
Contact: Andrew Barnes, Chief Executive Officer andrew@purebread.ca (778) 877-6513
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release may contain "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation, which reflect management's current expectations regarding future events. Such forward-looking statements include, but are not limited to, forward-looking statements with respect to plans, intentions, beliefs, and current expectations of the Company with respect to future business activities, increasing consumer demand, performance of in-store and online sales channels, geographic expansion, additional product offerings, and operating performance.
Forward-Looking statements are frequently characterized by words such as "plan", "project", "intend", "believe", "anticipate", "estimate", "expect" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although the Company's management believes that the assumptions made (and the expectations represented by such forward-looking statements) are reasonable, there can be no assurance that any forward-looking statements referenced herein will prove to be accurate.
Forward-Looking statements are not based on historical facts, but instead reflect the opinions and estimates of management at the date the statements are made and are subject to a variety of risks, uncertainties, and other factors that could cause actual results or events to differ materially from those anticipated in the forward-looking statements. These risks, uncertainties, and other factors that could cause actual results to differ materially from those in forward-looking statements include: reliance on key personnel, protection of our intellectual property rights, competition, a failure to establish additional locations, disruption at our facilities, global pandemics (such as COVID-19) and corresponding impacts on the Company's business, government regulation of the shared kitchen industry, the price of raw materials, consumer trends, climate change, cybersecurity, food safety and consumer health, brand value, internet search algorithms, reputation risk, risks associated with leasing commercial and retail space, effect of service and facility innovation, failure to retain current members and/or recruit new members, litigation risk, failure to meet expectations of our values & metrics, risks associated with acquisitions, management of growth, a history of losses, negative cash flow, additional funding requirements and risks, dividend risk, increased costs of being a publicly traded company, global economic risk, and share price volatility risk.
The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect results is included in the documents that may be filed from time to time with Canadian securities regulatory authorities by the Company.
For a more detailed discussion of certain of these risk factors, see the heading "Risk Factors" in the Company's most recent MD&A, available under the Company's SEDAR+ profile at www.sedarplus.ca.
