EDIBLE GARDEN AG INC Stock Price, News & Analysis

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced that its products will now be available in all 16 Morton Williams Supermarkets in the New York Metropolitan area. This expansion enhances Edible Garden's robust distribution network and highlights its commitment to providing locally grown, organic produce. CEO Jim Kras stated that the company will offer its entire product line, including herbs and lettuce, tailored to each store's needs. Morton Williams expressed enthusiasm for partnering with Edible Garden to provide high-quality, fresh food to its customers.

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) reported above-industry order fulfillment rates, leading to a successful 2022 holiday season. CEO Jim Kras highlighted that their fill rate surpassed 100% with a major retailer, showcasing their reliability amidst supply chain challenges. Edible Garden continues to expand its reach, offering organic produce across over 4,000 stores in the US. The company emphasizes sustainable practices and innovative logistics, with plans to introduce new food products.

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) has completed the first phase of its Edible Garden Heartland greenhouse in Grand Rapids, Michigan, ahead of schedule. Initial production has begun, with FDA food safety and USDA Organic certifications expected in January 2023. Phase two will introduce a seeding machine and hybrid vertical grow system to enhance production capabilities and profit margins. Additionally, a legacy floral business is generating revenue through holiday poinsettia sales, supporting the company's commitment to zero-waste and local, fresh produce.

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) is expanding its retail distribution by adding its products to 29 Gristedes and D’Agostino supermarkets located in Manhattan, Brooklyn, and Westchester. This strategic partnership aims to enhance product visibility and freshness through branded displays and advanced merchandising techniques. CEO Jim Kras emphasized the importance of high foot traffic in these urban locations and the company’s commitment to sustainability. Edible Garden's innovative packaging extends product shelf life, aiming to meet consumer demand while benefiting store owners.

Edible Garden AG Incorporated (NASDAQ: EDBL, EDBLW) announced a new holiday offering, the Poultry Mix, which includes potted rosemary, thyme, and sage. This product aims to simplify holiday meal preparation and will be available through major retailers like Weis Markets, King Kullen, Meijer, ShopRite, and Hannaford. The pricing is held steady to pre-inflation levels, reflecting the company's sensitivity to consumer costs. The initiative enhances distribution and aims to positively impact sales during the holiday season.

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) has announced the acquisition of Pulp, a company known for its sustainable gourmet sauces and chili-based products. With this strategic move, Edible Garden aims to expand its product offerings while leveraging its existing distribution network to bring these all-natural, Non-GMO sauces to a wider market. This acquisition aligns with Edible Garden's Zero-Waste Inspired® approach, focusing on sustainable practices and fresh, locally sourced ingredients. The move is expected to capitalize on the rising consumer demand for flavorful, preservative-free products.

Edible Garden AG announced the acquisition of a five-acre greenhouse facility in Grand Rapids, Michigan, expected to generate up to $20 million in annualized revenue. The facility, set to begin operations by year-end, will enhance capacity and include a research and development center focusing on plant-based products. In Q3 2022, revenues rose 12.5% year-over-year to $2.8 million, despite a net loss of $2.1 million. Operating expenses increased due to higher payroll and public company costs. A conference call regarding these developments is scheduled for today.

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) announced a conference call on November 10, 2022, to discuss financial results for Q3 2022, ending September 30. The call will provide business updates and can be accessed via telephone or webcast. Edible Garden focuses on controlled environment agriculture, offering organic produce at over 4,000 stores in the U.S. Their sustainable farming protocols and innovative GreenThumb software aim to optimize production and reduce food miles. The company operates advanced greenhouses in New Jersey and Michigan.