Reed’s, Inc. reports company developments for a branded beverage business built around handcrafted, natural ginger beverages and other craft beverage brands. Its updates commonly cover financial results, conference calls, distribution and channel initiatives, product and brand activity under the Reed’s, Virgil’s and Flying Cauldron names, and operating priorities such as sales execution, supply chain efficiency and margin improvement.
Reed’s news also includes governance and capital-structure actions, including executive appointments, board changes, public equity offerings and its completed listing on NYSE American. The company’s beverages are sold through national retail and food-service channels, including grocery, specialty, mass, drug, convenience, club and on-premise locations.
Reed’s Inc. has launched its Zero Sugar Classic Mule at Midtown Fresh in Kalamazoo, Michigan, marking its first retail placement in the state. This partnership will enhance consumer access to this ready-to-drink beverage, distributed by IHS Distributing. Chief Sales Officer Neal Cohane expressed optimism about consumer acceptance and sales velocity. Midtown Fresh’s owner, Paul Petros, highlighted their excitement to introduce this product, furthering Reed’s reach in Michigan's beverage market.
Reed’s Inc. (NASDAQ: REED) has launched Reed’s REAL Cranberry Ginger Ale exclusively for Costco members in the Northwest region during the holiday season. This non-alcoholic beverage combines cranberry's sweet taste with organic pressed ginger, is sweetened with cane sugar, and contains no preservatives or artificial ingredients. Currently available at 70 Costco locations across WA, OR, ID, MT, AK, and UT, the new flavor aims to cater to the growing demand for premium, ginger-based beverages. CEO Norman E. Snyder expressed excitement for this addition to their portfolio.
Reed's Inc. (Nasdaq:REED) reported a 27% increase in net sales for Q3 2021, reaching $13.4 million, up from $10.6 million in Q3 2020. The growth was fueled by a 34% volume increase in the Reed’s brand. However, gross margin declined to 29% from 32% due to rising costs linked to supply chain issues. Operating loss expanded to $3.7 million and net loss was $3.9 million, unchanged at $0.04 per share. The company raised its full-year net sales guidance to 20% but reduced gross margin expectations to 30%.
Reed's, Inc. (NASDAQ: REED) announced the nomination of Rhonda Kallman to its board of directors during its annual stockholders meeting scheduled for December 21, 2021. Kallman, a prominent figure in the beverage industry with over 35 years of experience, fills the vacancy left by the retiring Scott R. Grossman. Reed's board chairman John Bello emphasized Kallman's operational and strategic strengths, aiming to enhance the company's growth and market presence in all-natural beverages. The company continues to lead the market with its ginger-based products and has recently expanded into zero-sugar offerings.
Reed's Inc. (NASDAQ: REED) has launched Flying Cauldron® Butterscotch Cream Soda and reintroduced Virgil's™ Bavarian Nutmeg Root Beer in a unique swing-lid packaging format. These handcrafted beverages are designed for sharing, featuring a resealable top for ease of use. Available just in time for fall festivities, they emphasize the company's commitment to high-quality, all-natural ingredients. The sodas can be purchased at select retailers such as Sprouts and Cracker Barrel, bringing a nostalgic experience to consumers.
Reed’s, Inc. (Nasdaq: REED) announced plans to release its financial results for the third quarter ended September 30, 2021, on November 9, 2021, after market close. The senior management team will host a conference call at 4:30 PM ET for investors and analysts, providing insights into the company's performance. Reed's is a leader in all-natural beverages, with products sold in over 40,000 stores nationwide, including ginger beers and craft sodas. The company recently expanded into the zero sugar segment, appealing to health-conscious consumers.
Reed's Inc. (NASDAQ: REED) announces its sponsorship of The Wizard Run, a series of magical runs and virtual events. Kicking off on October 2 in Joplin, Missouri, the event includes a 1M and 5K run with augmented reality experiences. Participants will receive unique finisher medals and a race kit featuring an event t-shirt, a custom wand, and Flying Cauldron Butterscotch Beer. A sweepstakes offers a chance to win a year’s supply of Butterscotch Beer and a free entry to the run. This partnership aims to engage consumers and enhance brand visibility.
Reed's Inc. has launched its first-ever Halloween-themed product, the Boo Box, featuring four boxes of its Craft Ginger Chews. The limited-edition offering is designed to enhance the spooky season experience and is available exclusively on Reed's web store for $9.99. In addition, the company is reintroducing its Crystallized Ginger and improving its Craft Ginger Chews recipe. All products are made with real ginger and natural ingredients sourced from the South Pacific, highlighting Reed's commitment to quality.
Reed’s Inc. (Nasdaq:REED) reported a 4% increase in net sales to $11.3 million for Q2 2021, compared to $10.9 million in Q2 2020. The rise was driven by a 5% volume growth in the Reed’s brand and 13% for Virgil’s. Gross profit rose 9% to $3.3 million, improving gross margin to 29%. However, operating loss deepened to $3.7 million, with a net loss of $3.1 million, matching the loss per share of $0.03 from the previous year. The company reaffirmed its 2021 net sales growth guidance of 14% to 16%, while adjusting gross margin expectations down to 31%-32%.
Reed’s Inc. (Nasdaq: REED) plans to release its financial results for Q2 2021 on August 12, 2021, after market close. A conference call will follow at 4:30 p.m. ET for financial analysts and investors, accessible through Reed's investor website. The company, known for its handcrafted, all-natural beverages, operates under the Reed's, Virgil's, and Flying Cauldron brands and sells products in over 40,000 stores nationwide. Reed's is recognized as a leader in ginger-based drinks and has expanded into the zero sugar segment.