Main driver is New “White Glove” Service Model Now Active in 100+ Retail Locations with an additional 116 locations to be added by the end of August 2023.
LAS VEGAS, NV / ACCESSWIRE / July 6, 2023 / GPO Plus, Inc.(OTCQB:GPOX), a technology driven company specializing in the development, manufacturing, and distribution of consumer products for specialty retailers including convenience stores, gas stations, smoke and vape shops announces a significant milestone with an increase of over 320% in gross revenues for the 4th Quarter of their fiscal year ending April 30, 2023, compared to 3rd Quarter results.
The primary engine of the accelerated revenue increase is the successful deployment of our new “White Glove” Direct to Store (“DSD”) service. This new service includes new point of sale displays for our flagship brand “The Feel Good Shop+” and “Mr. Vapor”, yielding the greatest lift. To efficiently implement the new DSD service program GPOX creates “Mini Hubs” that are supported by a Regional Distribution Hub in Lubbock, Texas.
Brett H. Pojunis, CEO of GPOX commented on the exceptional results stating, “We are incredibly pleased with the results and feedback from our retail partners. Our strategy to provide a best-in-class, state-of-the-art, technology driven approach to direct store delivery (“DSD”) has proven there’s an extraordinary opportunity to capture additional market share. Convenience stores typically obtain 80% to 85% of their merchandise from a few primary distributors, then chase multiple sources for the remaining lifestyle goods ranging from nutraceuticals to sunglasses. By focusing on the 10% to 15% of inventory typically sourced from multiple distributors and vendors, we aim to become the premier provider of our white glove DSD service model. Our drivers go above and beyond, ensuring shelves are stocked, inventory is replenished, then presenting the store manager with an order confirmation on a tablet prior to leaving the store.”
Mr. Pojunis continues: “The success of our new service program has already prompted our retail customers to request additional product offerings. We are capitalizing on this demand by allocating all resources needed to roll out to 319 retail stores quickly and efficiently. With the introduction of our Mini Hubs, GPOX also has the opportunity to add other specialty retailers in that region as well as recruit outside sales reps and Independent Sales organizations (ISO’s). Furthermore, GPOX receives valuable point-of-sale data, allowing us to optimize our product mix and introduce higher margin “white label products” such as our Yuengling Ice Cream Gummy line, increasing both top line revenues as well as unit economics. Truly exciting times for our team members, retail partners and shareholders.”
As previously reported, with the new program GPOX is seeing a lift in monthly sales per location activated from $580 to over $2,120. The 4th Quarter revenues are reported to be over $430,000 compared to just over $102,000 in the 3rd quarter. These revenue numbers are unaudited and are subject to revision upon final review by our auditors, which will be published in the Company’s 10K filings.
Currently, GPOX services approximately 570 stores across 12 states centralized in the Southwest and Midwest regions of the United States. The Company has already identified 316 locations approved for the new program, with approx. 100 currently active. The next 116 stores in Dallas, Texas, Austin, Texas, and Albuquerque, New Mexico will be activated before the end of August 2023. We aim to activate an additional 103 stores in Wyoming, Kansas and Missouri marketplaces by the end of October 2023.
Once the Company opens a Mini Hub, sales teams actively looks to add additional specialty retailers (gas stations, smoke shops, vape shops, and liquor stores), with a goal of each Mini Hub servicing 100 to 150 locations. This equates to an initial goal of 1,000 to 1,500 retail locations to be supported by the Regional Hub in Lubbock.
At GPOX, we are committed to providing value to our investors, partners, suppliers, customers and shareholders. With our strong partnerships, licenses, expanding distribution network, and a focus on innovation, we are poised for continued growth and to create long term value for our stakeholders. We encourage you to sign up for our Investor Portal to stay up to date with GPOX: www.GPOPlus.com/ir
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About GPOPlus+ (GPOX)
GPO Plus (GPOX) is a product development, manufacturing, and distribution company which offers a diverse portfolio of high-quality innovative products sold directly to consumers and retailers. Our business is organized around four key areas: products (developing and manufacturing), distribution (getting our products to customers), marketing (promoting our products), and sales (selling our products to consumers and retailers). Our goal is to expand our product line and distribution reach to meet market demand and the needs of our customers.
For more information please visit www.GPOPlus.com. To activate your free GPOX Investor Account at www.GPOPlus.com/ir.
About DISTRO+
We help retailers save money + simplify purchasing!
DISTRO+ is a Group Purchasing Organization (GPO) + distributor of premium products for the emerging specialty retailer sector and wholesalers. DISTRO+ proudly represents best-in-class brands focusing on nutraceuticals, hemp-derived Farm Bill Compliant products and Kratom. DISTRO+ operates a Direct to Store Delivery “DSD” distribution model, which provides its customers the highest level of service. It’s backed by a robust technology portal that gives our partners and customers the IT backbone to manage logistics, inventory, and payments while shopping from real time product catalogs and inventory. Through the power of Group Purchasing, DISTRO+ offers its network competitive pricing with low MOQs that realize similar discounts as major retailers with large buying power. Visit DISTRO.Plus for more information.
About Feel Good Shop+
The Feel Good Shop+ is an innovative “store within a store” retail concept offering an extensive range of CBD and other hemp-derived cannabinoid products. The Feel Good Shop+ offers consumers an extensive range of hemp-derived cannabinoid products, including Delta-8, HHC, and other leading products from trusted companies like Hempacco, Kill Cliff, Canopy Growth, and CaliGold’s Flavorz. Consumers will be able to find all of their favorite products in one place.
Visit FeelGoodShop.Plus for more information.
Information about Forward-Looking Statements
This press release contains “forward-looking statements” that include statements regarding expected financial performance and growth information relating to future events. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the control of the Company and its officers and managers, and which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to; inability to gain or maintain licenses, reliance on unaudited statements, the Company’s need for additional funding, governmental regulation of the cannabis industry, the impact of competitive products and pricing, the demand for the Company’s products, and other risks that are detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission. All statements other than statements of historical fact are statements that could be forward-looking statements. You can typically identify these forward-looking statements through use of words such as “may,” “will,” “can” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “seek,” “estimate,” “continue,” “plan,” “point to,” “project,” “predict,” “could,” “intend,” “target,” “potential,” and other similar words and expressions of the future. The Company expresses its expectations, beliefs and projections in good faith and believes that its expectations reflected in these forward-looking statements are based on reasonable assumptions. However, there is no assurance that these expectations, beliefs and projections will prove to have been correct. Such statements reflect the current views of the Company with respect to its operations and future events, and are subject to certain risks, uncertainties and assumptions relating to its proposed operations, including the risk factors set forth herein. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, the Company’s actual results may vary significantly from those intended, anticipated, believed, estimated, expected or planned. In light of these risks, uncertainties and assumptions, any favorable forward-looking events discussed herein might not be realized and occur. The Company has no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. For a more detailed description of the risk factors and uncertainties affecting GPO Plus, Inc. GPOX, please refer to the Company’s recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Company Contacts:
GPOX Shareholder Success Team+ Investor Relation Contacts:
Brett H. Pojunis, CEO
Email: ir@gpoplus.com
Shareholder’s Line: 855.935.GPOX (4769)
SOURCE: GPO Plus, Inc.
