Announces Year-Over Year Record Sales and Gross Margin Increases

Rhea-AI Summary

Healthy Choice Wellness Corp. (NYSE-AM: HCWC) reported record-breaking revenue of an estimated $50 million for the nine-month period ending September 30th, a $10 million increase from the same period last year. The company also projects a record-breaking gross margin of $21 million, representing a 30% increase over the previous year.

CEO Jeffrey Holman attributed the growth to the team's hard work, dedication, and focus on delivering value and service to customers. The robust performance was driven by successful market expansion, penetration of new geographic regions through strategic acquisitions, and improved operational efficiencies. HCWC remains optimistic about its future prospects and is committed to expanding its footprint and delivering long-term shareholder value.

Positive

• Record-breaking revenue of $50 million for the nine-month period, a $10 million increase year-over-year
• Projected record-breaking gross margin of $21 million, a 30% increase over the previous year
• Successful expansion in market reach and penetration of new geographic regions
• Strategic acquisitions strengthening market position and expanding product offerings
• Implementation of cost-saving measures and improved operational efficiencies

Negative

• None.

News Market Reaction – HCWC

-4.02%

1 alert

-4.02% News Effect

On the day this news was published, HCWC declined 4.02%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOLLYWOOD, FL, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Healthy Choice Wellness Corp. (“HCWC” or the “Company”) (NYSE-AM: HCWC), a holding company focused on providing consumers with healthier daily choices with respect to nutrition and other lifestyle alternatives, announced record-breaking revenue estimated at $50 million for the nine-month period ending September 30th. This represents a $10 million increase compared to the same period last year. In addition to the increased revenue, the Company is projecting a record-breaking gross margin of $21 million for the same period, which would be a 30% increase over the previous year.

Jeffrey Holman, CEO, stated “We are extremely pleased with our sales and gross margin performance thus far this year. This growth is a testament to our team’s hard work, dedication, and unwavering focus on delivering exceptional value and service to our customers. We are well-positioned to capitalize on the growing demand for our products as we continue to drive sustainable growth,” Holman stated. “The Company’s robust performance was driven by several factors, including the successful expansion in its market reach and the penetration of new geographic regions through several strategic acquisitions that strengthened its market position and expanded its product offerings. Also, the company implemented cost-saving measures and improved operational efficiencies, leading to higher margins.”

Mr. Holman concluded, “Looking ahead, HCWC remains optimistic about its prospects and is committed to continued investment in expanding its footprint and delivering long-term value to its shareholders.”

About Healthy Choice Wellness Corp.

Healthy Choice Wellness Corp. is a holding company focused on providing consumers with healthier daily choices with respect to nutrition and other lifestyle alternatives. 

Through its wholly owned subsidiaries, the Company operates:

		Ada’s Natural Market, a natural and organic grocery store offering fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health & beauty products and natural household items (www.Adasmarket.com).
		Paradise Health & Nutrition’s three stores that likewise offer fresh produce, bulk foods, vitamins, and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health & beauty products and natural household items (www.ParadiseHealthDirect.com).
		Mother Earth’s Storehouse, an organic and health food and vitamin store in New York’s Hudson Valley, which has been in existence for over 40 years (www.MotherEarthStorehouse.com).
		Greens Natural Foods’ eight stores in New York and New Jersey, offering a selection of 100% organic produce and all-natural, non-GMO groceries and bulk foods; a wide selection of local products; an organic juice and smoothie bar; a fresh foods department, which offers fresh and healthy “grab & go” foods; a full selection of vitamins & supplements; as well as health and beauty products. (www.Greensnaturalfoods.com).
		Ellwood Thompson’s, an organic and natural health food and vitamin store located in Richmond, Virginia (www.ellwoodthompsons.com).
		GreenAcres Market, an organic and natural health food and vitamin chain with five store locations in Kansas and Oklahoma. GreenAcres Market is a chain of premier natural foods stores, offering organic and all natural products and vitamins from both top national brands as well as locally sourced specialty brand (www.greenacres.com).

• Through its wholly owned subsidiary, Healthy Choice Wellness, LLC, the Company operates a Healthy Choice Wellness Center in Kingston, NY and has a licensing agreement for a Healthy Choice Wellness Center located at the Casbah Spa and Salon in Fort Lauderdale, FL.
  
• Through its wholly owned subsidiary, Healthy U Wholesale, the Company sells vitamins and supplements, as well as health, beauty and personal care products on its website www.TheVitaminStore.com.
  

Forward Looking Statements

This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Additional written or oral forward-looking statements may be made by the Company from time to time in filings with the Securities and Exchange Commission (SEC) or otherwise. Statements contained in this press release that are not historical facts are forward looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are based on management’s estimates, assumptions and projections and are not guarantees of future performance. The Company assumes no obligation to update these statements. Forward looking statements may include, but are not limited to, projections or estimates of revenue, income, or loss, exit costs, cash flow needs and capital expenditures, statements regarding future operations, expansion or restructuring plans, including our recent exit from, and winding down of operations. In addition, when used in this release, the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” and “plans” and variations thereof and similar expressions are intended to identify forward looking statements.

Factors that may affect our future results of operations and financial condition include, but are not limited to, fluctuations in demand for our products, the introduction of new products, our ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of our liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in our filings with the SEC.

Contact Information

Healthy Choice Wellness Corp.
3800 North 28th Way, Hollywood, FL 33020
305-600-5004
Email: ir@hcwc1.com

FAQ

What is Healthy Choice Wellness Corp's (HCWC) estimated revenue for the nine-month period ending September 30th, 2024?

Healthy Choice Wellness Corp (HCWC) reported an estimated revenue of $50 million for the nine-month period ending September 30th, 2024.

How much did HCWC's revenue increase compared to the same period last year?

HCWC's revenue increased by $10 million compared to the same period last year.

What is the projected gross margin for HCWC for the nine-month period ending September 30th, 2024?

HCWC is projecting a record-breaking gross margin of $21 million for the nine-month period ending September 30th, 2024.

What percentage increase does HCWC's projected gross margin represent compared to the previous year?

HCWC's projected gross margin represents a 30% increase over the previous year.

What factors contributed to HCWC's robust performance according to the press release?

HCWC's robust performance was driven by successful market expansion, penetration of new geographic regions through strategic acquisitions, and implementation of cost-saving measures and improved operational efficiencies.