Goodfood’s Active Subscribers Count Increases 83% Year-Over-Year and Reaches 230,000

MONTREAL, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX: FOOD), a leading online grocery company in Canada, announced today it has reached 230,000 active subscribers with the addition of 30,000 net new active subscribers in the first quarter of Fiscal 2020 ended November 30, 2019. This represents an increase of 83% compared to the same period last year.

“We are very pleased with the solid subscriber growth achieved during the important back-to-school period. Obtaining continued growth on a much larger member base confirms Goodfood’s momentum in the market and among Canadian consumers,” said Jonathan Ferrari, Chief Executive Officer of Goodfood. “This subscriber growth was driven by a combination of factors including the seasonal ramp-up of our targeted marketing campaigns. In addition, Western Canada continues to grow at a fast pace, and we have also seen robust growth in Ontario, where we now have as many members as we do in the province of Quebec and still have ample runway to add members. Our new product offerings have also begun contributing more meaningfully to our overall performance as we scale up our private label grocery products as well as ready-to-eat meals in new provinces, resulting in a more complete offering to our members and an increase in average order value,” 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 230,000 active subscribers as at November 30, 2019.

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