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.
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Reed’s Inc. has launched its 'Real is Always Better' campaign to celebrate genuine ingredients as Americans return to regular summer activities. The campaign emphasizes that 60% of ginger ale drinkers prefer beverages made with real ginger. Reed’s REAL Ginger Ale™ contains 2000 milligrams of fresh ginger. The campaign will be prominent across Northeast summer hotspots and includes multimedia marketing strategies and a sampling initiative via the Reed’s Green Machine. Additionally, the company is hosting a sweepstakes to win a branded Moke™ vehicle.
Reed’s Inc. (NASDAQ: REED) announces the launch of two new flavors in its Really REAL Ginger Ale line: Shirley Tempting and Transfusion. These zero-sugar, all-natural mocktails are made with 2,000 mg of fresh ginger, catering to the growing consumer demand for healthier beverage options. Available in stores and online for $30 per 12-pack, they feature refreshing blends of cherry, pomegranate, and grape flavors. The introduction reflects Reed’s commitment to providing unique, flavorful options in the non-alcoholic market as summer approaches.
Reed's Inc. (NASDAQ: REED) is expanding its Virgil's™ Zero Sugar soda line with three new flavors: Grapefruit, Dr. Better, and Ginger Ale. These keto-certified beverages are crafted from natural ingredients and contain no artificial additives. The launch responds to consumer demand for healthier soda options, bringing the total to nine flavors in the Zero Sugar range. The new drinks will be available in select grocery stores and online this summer, further enhancing the brand's retail presence.
Reed’s Inc. (Nasdaq: REED) announces expanded distribution with Publix Super Markets, making its REALLY REAL Ginger Ale™ and Extra Ginger Beer available in over 1,100 locations across the Southeastern U.S. This initiative increases the brand's retail footprint and meets consumer demand for all-natural beverages. Additionally, Reed's has enhanced its distribution through the Anheuser Busch network in Florida. The company will promote its products at the Savor SoFlo Festival on June 5-6, emphasizing their all-natural offerings.
Reed's Inc. has launched its flagship Extra Ginger Beer in 12 oz. recyclable aluminum cans, expanding its presence in over 1,600 Walmart Mixer Sets. This move is aimed at meeting growing consumer demand for canned beverages and enhancing retail opportunities. The product, crafted with real organic ginger, has been primarily available in glass bottles. This innovation aligns with Reed's strategy to increase its reach in the mixer category and on-premise venues across the U.S. Reed's has been a leader in the ginger beverage market for over 30 years.
Reed's Inc. (Nasdaq: REED) reported a 28% increase in net sales for Q1 2021, reaching $12.1 million, compared to $9.5 million in the prior year. Core brand gross sales were up 27%, driven by a 37% growth in the Reed’s® brand and 29% in the Virgil’s® brand. Gross profit rose 34% to $3.9 million, with a gross margin of 32%. However, the company reported an operating loss of $4.3 million and a net loss of $4.5 million. Reed's reaffirms its 2021 revenue growth outlook of 14% to 16% amid ongoing supply chain challenges.
Reed’s Inc. (Nasdaq: REED) has launched its first-ever resealable 20 oz. bottles for its beverages, marking a significant innovation in over 30 years of operation. The new bottles are available for Reed’s REAL Ginger Ale, Virgil’s Handcrafted Root Beer, and Virgil’s Dr. Better, designed for on-the-go consumption. This packaging breakthrough facilitates entry into c-store and supermarket channels, catering to consumer demand for healthier options. The resealable bottles are also entirely recyclable, emphasizing sustainability. Key retail partners include Kroger and select CVS locations.
Reed's Inc. (Nasdaq: REED) is set to release its financial results for Q1 2021, ending March 31, on May 17, 2021. The announcement follows a leading position in the U.S. beverage market, particularly in the segment of handcrafted, all-natural products. The company's portfolio includes the top-selling Ginger Beer and craft sodas, with products available in over 40,000 retail locations nationwide. Following the earnings release, Reed's management will conduct a conference call at 4:30 PM ET to discuss results with investors.
On May 5, 2021, Reed’s Inc. (Nasdaq: REED) announced a registered direct offering, planning to sell up to 6,680,000 shares of common stock at $1.18 per share, aiming for gross proceeds of $7.9 million. After fees and expenses, net proceeds are expected to be around $7.4 million. The closing is anticipated on May 7, 2021, contingent on standard conditions. Funds will be allocated to working capital and general corporate purposes, supporting distribution initiatives aligned with the company's strategic goals.