- Sharing
Services reports Q1 net sales of $12.9 million; this is an increase of
more than 35 percent compared to the last quarter of the previous year
- The
impressive sales numbers can be attributed to the line of products the
company launched in December 2017 and its aggressive Blue Ocean Strategy
- The
company has a targeted expansion strategy and acquisitions of interests in
diverse industries including health, energy and technology
Sharing Services, Inc. (OTCQB: SHRV) has been making
headlines in the direct selling market with product launches and record sales
numbers. The company’s fiscal year runs from May 1 to April 30. In the first
quarter ended July 31, 2018, the company reported revenues of $12.9 million.
Compared to its fourth quarter revenues of $8.3 million, this result marked a
36 percent jump in sales (http://ibn.fm/tqj13).
On December 13, 2017, the company launched several wellness
products under its Elevacity Global health-and-wellness division. The products,
which include Elier Mud, an anti-aging product, and Timeless, a line of
skincare products for both men and women, have made a huge contribution to the
company’s earnings.
The contribution of its Elepreneurs marketing team has also
been significant, especially relating to its execution of the Blue Ocean
Strategy and the direct-to-market approach.
According to John ‘JT’ Thatch, the company’s CEO, customers
are pleased with the launched products, because they are seeing great results.
In terms of numbers, SHRV has reported over $20 million in sales since these
products were introduced.
The $12.9 million Q1 result represents a milestone for the
company, and management is impressed with the pace at which the company is
exceeding its goals.
Being a direct marketing company, the major operating
expense item is selling and marketing, which accounted for slightly under 50
percent of the reported Q1 net sales. Apart from the revenue growth, the asset
base for the company has also scaled up from $5.9 million at the end of the
last financial year to $8.4 million in the first quarter 2018. This is
according to the 10-Q reports filed with the Securities and Exchange Commission
(SEC).
Top decision makers in the direct selling industry looking
to manage and grow their businesses can leverage the expertise of Direct
Selling News. Operating from Plano, Texas, this platform serves the information
needs of executives who seek to understand the dynamics of the industry.
Sharing Services, Inc. is a Plano, Texas-based holding
company with a diversified portfolio in the direct selling industry. The
company is progressively gaining traction in the industry mainly by owning,
operating or controlling companies at different levels within the
direct-selling sector. To date, the company has interests in health and
wellness, technology, energy, training, insurance services, media and travel
benefits. Sharing Services has a keen interest in home-based entrepreneurs
through its direct-selling support offerings.
For more information, visit the company’s website at www.SHRVinc.com
About QualityStocks
QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential. We offer several ways for investors to learn more
about investing in these companies as well as find and evaluate them.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment