Sugarmade Inc (OTCMKTS:SGMD) showcases the strong growth that is coming from its CarryOutSupplies.com operations. This unit services over 3,000 quick service restaurants with generic and custom printed supplies. In the past one year, growth has been directed by the launch of new offerings and due to a considerably increased online presence. As a result, the firm is anticipating strong growth for the remainder of 2017.
The details
CarryOutSupplies.com recently added over 1,000 new products to its quick service restaurant offering portfolio and is in course of adding even more each month. Besides new product additions and with a continued focus on consumer retention, this segment of Sugarmade is well placed to record strong growth this year, while at the same time lowering headcount and implicitly reducing costs.
Jimmy Chan, the CEO of Sugarmade, reported that they recorded growth in revenue as well in internet traffic, which clearly indicates upcoming growth. For the last nine months, the visitors count to company’s site has surged by average 41% sequentially per month. Additionally, the average order size persists to grow with latest monthly statistics showing over a 50% jump in order size above levels witnessed in the last half of 2016.
They remain extremely positive about their continued growth and stability of their core legacy business especially at a time when the company is introducing new growth measures in cannabis packaging. The management also intend to soon release an entirely new online site committed just to hydroponic equipment and supplies.
Sugarmade is a major product and brand marketing entity that invests in offerings and brands showcasing disruptive potential. Some of the brands of company are CarryOutSupplies.com, CannaShroud and many others. The firm launched its first marking plan for Sriracha Stix under approval from Huy Fong Foods, Inc.
On Thursday, the stock price of Sugarmade declined/gained more than to close the day at $.
