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NGS on a growth spurt

16 December 2022 11:09

National Growth Solutions’ Kidz Protein products are now selling in 409 Walmart stores across the United States, as the company continues to see increases in dollars and unit velocity every week.

It shows an expansive reach in the world’s largest company by revenue, and an important leverage tool with numerous well-advanced discussions already underway to grow its retail presence across North America.

Wholesale sales to physical stores more than doubled between October and November, with online sales also having doubled month on month since launch, and the company said its products were now 95 per cent or beyond in stock at Walmart.

“As of the first week in December, our sales performance has been higher than anticipated, led by high sales velocity in roughly 35% of our allocated doors,” chief executive and managing director Liron Fendell said.

“We are utilising this performance data and information to evaluate and test various creatives and advertising programs in high performing doors that we can deploy to boost sales and continue growth.

“With continued performance and subtle improvements, we expect to see increased store counts and expanded distribution with Walmart in the future.”

The stage is set for NGS to continue growing as it develops history and demand for its brands, while leveraging its success at Walmart to grow its retail reach across the US.

NGS’ Australian Stock Exchange-listed share price has risen 7.14 per cent today, currently selling at 6c (11.01 am UTC+8 hours).

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