- SGMD, BudCars cannabis delivery service set to break sales, profits, customer orders records
- BudCars demonstrating “accelerating growth,’ represents significant period-over-period upside potential
- Company remains on track to reach $11 million benchmark for annualized sales by the close of calendar Q3
With August wrapping up, Sugarmade (OTCQB: SGMD), a product and branding marketing company investing in operations and technologies with disruptive potential, expects the month-end numbers for BudCars Cannabis Delivery Service to set multiple performance records for sales, gross profits and total customer orders (http://ibn.fm/aLwaC).
“[The] BudCars Sacramento hub continues to demonstrate accelerating growth that suggests we still haven’t really found the ceiling here in terms of period-over-period upside potential,” said Sugarmade CEO Jimmy Chan. “Ultimately, this is gratifying to see because we have taken a unique approach to retail cannabis product distribution.”
Based on mid-July analysis and projections, BudCars appeared to be on a trajectory to meet or exceed previously identified goals of $650,000 in total sales and more than 5,000 individual customer orders for July; if met, those numbers continue an impressive streak of sequential month-over-month topline growth at or above the company’s target 30% level.
In addition, this consistent upward trends puts the company right in line to reach — or exceed — the $11 million benchmark for annualized sales by the close of calendar Q3, which the SGMD executive team announced previously in its updated guidance materials (http://ibn.fm/QOoIW).
Sugarmade is also on right on track with other strategic plants to leverage the current cannabis market needs. “We are pursuing three primary avenues to drive growth: organic execution, geographic expansion, and verticalization of our supply chain,” said Chan. “In each case, we continue to make progress. However, at this point, we have only scratched the surface of what is possible over the intermediate term for BudCars given that all of the growth we have booked so far has been exclusively about organic execution as we claim an increasing share of the market and drive enthusiastic repeat business from newly acquired customers.”
Specifically, SGMD has plans to launch new BudCars locations in the Los Angeles regional market and is pursuing the incorporation of in-house cultivation and cannabis product manufacturing at a new 5,000 square-foot, indoor, premium-cannabis cultivation facility located near its Sacramento BudCars hub.
BudCars is a retail business that offers same-day delivery of top-quality cannabis. Customers choose from a variety of products, including edibles, flower, pre-rolls, vapes, tinctures and concentrate across dozens of premium brands. Once consumers complete their purchases online, they receive their order the same day via BudCars Cannabis Delivery Service.
Sugarmade Inc. is a product and branding marketing company investing in operations and technologies with disruptive potential. In addition to its financial interest in the BudCars brand, SGMD’s brand portfolio includes CarryOutsupplies.com and SugarRush(TM).
For more information, visit the company’s website at www.Sugarmade.com.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://ibn.fm/SUGAR
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