Yowie Group: Rollout Leads To Record Sales
Edison | Nov 08, 2015 06:18AM ET
Walmart (N:WMT) rollout leads to record sales
Yowie Group's (AX:YOW) retail revenues doubled on a sequential basis in the September quarter to an estimated US$4.8m as the company expands its rollout from 1,500 to 4,300 Walmart stores in the US. With the Walmart rollout nearly complete, inventory-related working capital needs are declining, improving operating cash flow trends. Based on these early results, we believe there may be upside to our fiscal 2016 base case outlook. However, we are maintaining our estimates for now as the September quarter numbers reflect both retail and stock-building sales.
Quarterly sales at retail approach US$5m
Yowie Group reported record sales in the September quarter. An estimated US$4.8 million of retail sales value was achieved, which management indicates is more than double the retail sales value in the June quarter. As of 30 September, Yowies are in 3,700 Wal-Mart Stores Inc (N:WMT) stores, and the rollout to all 4,300 stores is on track to be finished by late fall 2015.
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