The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER), a producer of premium bottled alkaline and flavored-infused drinking waters and CBD-infused products, on Monday announced revenue of $10.8 million for the fiscal second quarter ended September 30, 2020. “During the fiscal second quarter, we made good progress toward our strategic goals, gained market share, launched innovating new products, added leading partners, and expanded into new growth markets, all while navigating through a challenging COVID environment. Our quarterly growth was impacted as various distributors reduced deliveries and cleared excess inventory built in the prior quarter. Delivery and inventory trends continued to improve throughout the quarter, with order activity reverting to pre-pandemic levels,” said Richard A. Wright, president and chief executive officer of The Alkaline Water Company. “Our fiscal third quarter is off to a strong start, and we are seeing a record month of sales for October. Demand for our lifestyle brands at the retail level remains strong, and revenue grew a healthy 21% during the first half of our fiscal year. According to the October 3 Nielsen’s data, our flagship brand, Alkaline88(R), has been the fastest-growing non-flavored value-added water in the top 10 brands over the last 13, 26, and 52 week period. Our footprint continues to grow nationally, and this quarter alone, we added over 1,000 new store locations for our A88 family of lifestyle brands. We see strong momentum across all our product categories and consider this quarter’s performance to be an outlier. As of early November, inventory at retailers has normalized, driven by our aggressive summer marketing efforts. We believe the actions taken positions us for stronger growth for the balance of this fiscal year and beyond.”
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About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH-balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label: Clean Beverage. Quickly being recognized as a growing lifestyle brand, Alkaline88 launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused flavored water is available in seven unique all-natural flavors with new flavors coming soon. Additionally, in 2020, the company launched A88 Infused Beverage Division Inc., which includes the company’s CBD water and flavor-infused water. For the company’s topical and ingestible offerings, A88 Infused Products includes both the company’s lab-tested, full-spectrum hemp salves, balms, lotions, essential oils and bath salts, along with broad-spectrum hemp beverage shots, powder packs, oil tinctures, capsules and gummies. To learn more about the company, visit www.A88CBD.com and www.TheAlkalineWaterCo.com.
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