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NGS Grow Walmart Partnership

8 March 2023 10:26

Nutritional Growth Solutions is set to expand its partnership with US retail giant Walmart, announcing that NGS products will be stocked in an additional 56 stores from May this year, bringing the total stores stocking NGS products to 456.

Expansion comes as a result of the continued outperformance of NGS’ Growing Up Milk product line which has achieved a sales velocity of 1.2 in over 84 per cent of Walmart stores, with the Company now working to increase sales velocity further through the use of strategic marketing which will likely result in an increase of Walmart stores that stock NGS products in turn.

The increase in stores aligns with NGS’s North American growth strategy driven by recently appointed CEO Steve Turner, with the Company planning to continue its growth in the US market even further, through both expanding product lines stock in Walmart as well as gaining additional retail distribution throughout the US.

The Company said it is pleased to have such a significant expansion so early in its relationship with Walmart.

“With our products only being on the shelves of Walmart since September 2022, this increase has followed 6 months of sales growth, as we continue to increase sales velocity through our US marketing campaign,” Chief Executive Steve Turner.

“With a strong focus on expanding our US business, we look forward to continuing to work with Walmart to expand the number of SKU’s, stores and product lines, whilst concurrently aiming to expand our overall distribution in the US.”

NGS is currently working towards the release of a new product developed in partnership with Walmart, Happy Tummies, which is expected to hit Walmart shelves in the latter half of this year, with the Company looking for future opportunities for product development.

NGS’ Australian Stock Exchange-listed share price has risen 11.99 per cent today, currently selling at 2.8c (10.00 am UTC+8 hours).

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