TARRYTOWN, NY, June 18, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Nightfood, Inc. (OTCQB: NGTF), the innovative ice cream company solving America’s $50 billion-dollar nighttime snacking problem, today announced another major supermarket chain will soon be carrying Nightfood ice cream.
The new chain has agreed to place Nightfood in 100% of their 250+ locations. As with past supermarket chain announcements, Nightfood will not announce the name of their new retail partner until product is available in stores. The award-winning ice cream is expected to hit shelves in early September.
“As we’ve mentioned in the past, most major chains have an annual timeline that has them reviewing new brands in the fall, and on shelf in the spring,” commented Nightfood CEO Sean Folkson. “There are a few chains that review in the late winter and spring, and we’ve now landed two of those key targets in Lowe’s Foods and this new chain.”
Management has begun the paperwork with the national distributor that will be buying from Nightfood and selling to the chain. The Company is awaiting confirmation of which Nightfood flavors will be carried by the retailer, and the number of flavors is unknown at this time.
“This is a confirmation I’ve been confidently expecting for several weeks now,” added Folkson. “Like many other major deals nearing completion or even recently completed, there’s a time and a place for every announcement. I continue to remind shareholders that important developments often must be kept under wraps for various reasons, and sometimes for an extended period of time. The ongoing and ever-increasing production runs should clearly communicate to investors what we expect in the coming months, and that our national rollout is very much on track.”
Folkson has stated previously that additional distribution points, ongoing media coverage, and positive consumer response can serve as additional proof points of what the future holds for the brand. For the rollout, led by former long-time Unilever ice cream executive Jim Christensen, Nightfood has established a target of 10,000 points of retail distribution secured by March 31, 2020. The team is in discussions and various stages of the sell-in process with many of the largest supermarket chains in the country with the peak of ice cream review season quickly approaching.
Nightfood has now successfully secured distribution in four of the top fifty supermarket chains in the United States within six months of manufacturing their first pint of ice cream. Management is projecting profitability and revenues greater than $3 million in the fourth quarter of 2019.
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 identified nighttime specific food and beverages as one of their most “compelling and category changing” trends for the coming years
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, as well as Lowes Foods, with 78 stores in the Carolinas and Virginia.
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://nightfood.com
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.
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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.