Tarrytown, NY, March 29, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Nightfood, Inc. (OTCQB: NGTF), the innovative company solving America’s $50 billion-dollar nighttime snacking problem, has announced today that their second production run has been completed of all eight flavors of Nightfood ice cream.
All online back-orders are scheduled to ship early next week and e-commerce shipping will return to normal.
“It’s important to point out that we were never on back-order for our wholesale customers, which is the focus of our business,” explained Jim Christensen, Nightfood’s VP of Ice Cream Sales. “In fact, we shipped several pallets to a new distributor last week when this run was just getting underway.”
In light of the extensive national media coverage Nightfood has received, and pictures by individual consumers shared on social media showing Nightfood out of stock in certain Meijer supermarket locations, the Company has received many inquiries from investors concerned about the ability to meet demand for the ice cream.
“When our E-commerce warehouses ran out of certain flavors, we made the easy business decision to pause consumer shipments for a couple of weeks rather than spread our remaining inventory too thin across multiple warehouses…we needed to make sure we were able to quickly fulfill wholesale orders for our new and existing accounts,” added CEO Sean Folkson. “I’ve stated before, our focus is on making Nightfood available locally across the country and mail order ice cream has never been a primary focus.”
Management is working to establish production redundancy and secure increased production capacity, but reminds investors there is plenty of untapped production capacity already available through existing relationships.
“We’re investing in production redundancy and optimizing systems that will allow us to grow rapidly and efficiently,” continued Folkson. “We’re not concerned about an inability to fulfill projected demand and growth. That being said, regardless of how much capacity a young brand has, it’s always conceivable that a major and unforeseen positive event could create an inventory shortfall.”
As part of this national roll-out, Nightfood has secured distribution arrangements in fifteen states within six weeks after first appearing on-shelf. The brand’s second major retail chain partner, a top-50 supermarket chain in the Carolinas, is expected to be formally announced in the coming weeks.
About Nightfood Holdings:
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.
On Feb 8, 2019, it was announced that Nightfood ice cream won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers.
With the overwhelming majority of at-home ice cream consumption occurring in the hours before bed, Nightfood’s sleep-friendly nighttime ice cream, formulated by sleep and nutrition experts, delivers benefits found in no other product on the market.
Market research giant Mintel recently released a report identifying nighttime specific food and beverages as one of their most “compelling and category changing” trends for 2017 and beyond.
Nightfood ice cream is rolling out nationally, and has recently announced distribution in the popular Meijer supermarket chain throughout the Midwest, with concentration in the metropolitan areas of Chicago, Detroit, Indianapolis, Columbus, and Milwaukee.
To enter the Nightfood® Ice Cream Giveaway, where the Company is giving away a one-year supply of Nightfood ice cream, plus a brand-new freezer to store it in, visit http://nightfoodicecream.com – each entrant gets a coupon for a free pint of ice cream (some purchase required).
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”, for which they’ve successfully secured trademark rights.
Questions can be directed to investors@Nightfood.com
Forward Looking Statements:
This current press release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.