Goodfood’s Active Subscribers Count Increases 55% Year-Over-Year and Reaches 246,000
MONTREAL, March 03, 2020 (GLOBE NEWSWIRE) --
Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX:FOOD), a leading online grocery company in Canada, announced today it has reached 246,000 active subscribers with the addition of 16,000 net new active subscribers in the second quarter of Fiscal 2020 ended February 29, 2020. This represents an increase of 55% compared to the same period last year.
“We maintained strong subscriber growth momentum during the second quarter and are pleased with the continued penetration of Goodfood across the country. Consistently expanding our large member base from coast to coast solidifies Goodfood’s leading position as a grocery and meal solutions provider among Canadian consumers,” said Jonathan Ferrari, Chief Executive Officer of Goodfood. “Reactivations and successful marketing campaigns with sports teams and prominent athletes like Toronto basketball champion Serge Ibaka, along with new product offerings were key drivers of subscriber additions this quarter. With the imminent opening of our Vancouver facility and our recent announcement of an upcoming flagship Toronto fulfilment centre, we are well positioned to execute our strategy and continue our strong growth trajectory,” concluded Mr. Ferrari.
About Goodfood
Goodfood (TSX:FOOD) is a leading online grocery company in Canada, delivering fresh meal solutions and grocery items that make it easy for members from coast to coast to enjoy delicious meals at home every week. Goodfood’s mission is to make the impossible come true, from farm to kitchen, by enabling members to do their weekly meal planning and grocery shopping in less than 1 minute. Goodfood members get access to a unique selection of products online as well as exclusive pricing made possible by its world class direct to consumer fulfilment ecosystem that cuts out food waste and expensive retail overhead. The Company has its main production facility and administrative offices based in Montreal, Quebec, a second production facility in Calgary, Alberta, a breakfast facility in Montreal, Quebec and is currently building out its new production facility in Vancouver. Goodfood had 246,000 active subscribers as at February 29, 2020.
For further information:
| Investors | Media |
| Philippe Adam Chief Financial Officer (855) 515-5191 | Pierre Boucher President (514) 731-0000 |
| Roslane Aouameur Head of Investor Relations (855) 515-5191 | Jennifer McCaughey Vice-President, Investor Relations (514) 731-0000 |
