While customer demand for Reed’s products has grown, the company was hit by supply chain shortages during the second quarter of 2019 which resulted in an underwhelming growth report and delays on new product launches.
Last week, Eater analyzed the eternal cool factor of AriZona Iced Tea, the 99 cent 24 oz. gas station mainstay which hit shelves in 1992. The brand has withstood the test of time, somehow avoiding the trappings of trendy 90s nostalgia to become what Eater calls simply “a mood.”
The company generated $8.4 million in net sales during the first quarter, up 2% from 2018. Sales of the core Reed’s Ginger Beer line were up 15% while craft soda Virgil’s grew 46%. Gross profit increased 9% to $2.5 million and gross margin increased 185 basis points to 30%.
Reaching for a ginger ale soda when you have an upset stomach? You’re not alone, as 88 percent of moms say they would give their child or another family member ginger ale soda to soothe an upset stomach. However, the truth is there is almost no real ginger in conventional ginger ale sodas and certainly not enough for a functional benefit
Speaking to investors on the company’s fourth quarter and full year earnings report call yesterday, Reed’s CEO Val Stalowir said since completing its three-phase rebrand and company restructuring the ginger beer maker is now focused on accelerated growth in 2019.
Reed’s CEO Val Stalowir has never been shy about the dire state of the company before he joined in July 2017. Now, nearly two years later, the ginger beer maker is at the end of a three-step recovery plan that Stalowir hopes has it on solid ground to hit its ambitious growth targets.
From ambitious startups to established category leaders, CBD and hemp-based beverages were everywhere at Expo West this year, spanning across the spectrum of formats, functionality and flavor. In this slideshow gallery, we highlight some of the notable hemp-based and CBD-infused drinks from Expo West 2019.
With health conscious consumers looking not just to food, but to beverages to deliver functional benefits, Reed's, Inc., is pouring it on, debuting several new innovations in its leading Reed's Ginger Beer portfolio at Natural Products Expo West 2019, March 5-9 in Anaheim, California.
Reed’s, Inc.’s rebranded Virgil’s soda line helped spur a 29 percent increase in gross margins in the third quarter, CEO Val Stalowir told investors during the company’s Q3 earnings report this week. According to Stalowir, buyer interest in Virgil’s Zero Sugar helped Reed’s to open 1,100 new doors in Q3.
Reed's Inc., owner of the nation's leading portfolio of handcrafted, all-natural beverages, today announced it has enlisted 12-time Jeopardy champion and New York City bartender, Austin Rogers, to represent its all-natural line of Virgil's Handcrafted Sodas.
The rebranded Virgil’s, which is currently rolling out nationwide, features a “cleaner, more youthful, more energetic” label which highlights its “All Natural” claim and emphasizes the product’s craft quality, according to Reed’s CEO Val Stalowir.
On Monday, Reed's Inc. announced it has retained Gordon Brothers, a Boston-based advisory, restructuring and investment firm, to manage the sale of its Los Angeles manufacturing facility, which was brought online in 2001.