CITY OF INDUSTRY, California, May 24, 2017 /PRNewswire/ --
Sugarmade, Inc. (OTC:SGMD), today outlines the strong growth that is continuing from within its CarryOutSupplies.com business operations, which services more than 3,000 quick service restaurants with custom printed and generic supplies. Over the past year, growth has been led by not only the introduction of new products, but also due to a significantly increased Internet presence. As a result, the Company is expecting record growth for the remainder of the calendar year.
CarryOutSupplies.com had recently added more than 1,000 new items to its quick service restaurant product portfolio and is in process of adding more each month. With a continued emphasis on customer retention, in addition to new product additions, the division has been able to position the business for strong growth in 2017, while at the same time reducing headcount and meaningfully reducing costs.
"Not only do our revenues continue to grow, so does out Internet traffic, which, in our opinion, is a strong indicator of future growth," commented Jimmy Chan, CEO. "For the past nine months, the total visitors to our website has grown by an average of 41% sequentially each month. Additionally, our average order size continues to grow with recent monthly statistics showing more than a 50% increase in order size over levels experienced during the last half of the calendar year. We remain very positive about our continued stability and growth of our core legacy business at a time when we are launching new growth initiatives in cannabis packaging. We also plan to soon launch an entirely new website dedicated only to hydroponic supplies and equipment."
About Sugarmade, Inc. (OTCQB: SGMD)
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's brands include CarryOutSupplies.com, Sugarmade Tree Free Paper, FreeHandâ ThumbTrayâ and CannaShroud, the world's first Cannabis specific shipping systems. Company has recently launched its initial marking efforts for Sriracha Stix, a revolutionary culinary seasoning product under official license from Irwindale, California- based Huy Fong Foods, Inc., the maker of Sriracha Hot Chili Sauce. For more information on the Company's products, please visit http://www.Sugarmade.com .
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements.
Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
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SOURCE Sugarmade, Inc.