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Yumy Candy Company Inc (The)
Symbol TYUM
Shares Issued 27,488,132
Close 2023-02-10 C$ 0.81
Recent Sedar Documents

Yumy Candy talks up sales at Walmart

2023-02-10 16:21 ET - News Release

Ms. Erica Williams reports

YUMY CANDY EXCEEDS EXPECTATIONS WITH SALES THROUGH NORTH AMERICAS LARGEST RETAILER WALMART

The Yumy Candy Company Inc. has exceeded expectations with initial sales volumes through Walmart now ranking as the company's top-revenue-driving customer for last quarter. The company expects revenues to be in the multiple millions with strawberry kiwi currently seen as the top seller, with peach coming in second and sour watermelon as a close third. These revenues have been a result of an initial rollout into the chain, of which the company expects to expand further after proving demand.

The company is proud to announce the success of its repeat sales into the candy aisle, which have exceeded sales expectations in Walmart stores nationwide. The Yumy Bear portfolio is vegan, gluten-free and low sugar, offering a healthier alternative to traditional candy, which has quickly become a hit among customers looking for a better snack option.

Yumy Candy previously announced the rollout of its Yumy Bear products into hundreds of locations through Walmart Canada being featured in the better for you sections of Walmarts nationwide. In just a few short months, the healthy candy product has seen a significant increase in sales, outpacing other products in the same category. The company attributes this success to the growing demand for healthier snacks and the high quality of the product. As per Walmart's initiatives: "Providing and improving access to affordable, nutritious food is central to Walmart's core business, as well as its philanthropic efforts around the world. Our efforts to provide more affordable, nutritious food include increasing our assortment of nutritious food, improving access to nutritious food, and engaging and educating customers and communities on making better food choices."

"It's clear that there is a growing demand for healthier snack options, and we're proud to be at the forefront of this trend by offering this innovative product in widely accessible retail stores. By developing the additional Yumy Soda line, we expect these new SKUs will contribute to meeting our revenue projections in current sales channels as well," stated Erica Williams, chief executive officer at Yumy Candy. "We plan to use proven sell-through rates and sales data to contribute to our sales pitch, showcasing proven demand for our low-sugar, vegan confectionery products."

The U.S. confectionery market size was valued at $38.17-billion (U.S.) in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.8 per cent from 2023 to 2030. In recent years, confectioneries, particularly chocolate and candies, gummies, and jellies, have gained immense popularity among consumers across the United States. Consumers are now seeking high-quality and tasty confectioneries in different variants. This factor is anticipated to drive the growth of the confectionery industry in the U.S. over the forecast period.

The healthy candy product is now available in select Walmart stores nationwide, and customers are encouraged to try it for themselves. With its delicious taste and health benefits, product has quickly become a customer favourite.

Pegah Manavikherad has replaced Cassidy McCord, who has stepped down as a director of the company. The company would like to thank Ms. McCord for her contributions to the company and wish her the best in her future endeavours.

Ms. Manavikherad, a seasoned communications professional with a bachelor's degree from Capilano University, has been appointed to the board of directors. With extensive experience in marketing and public relations, including a focus on the sports and health sector, she brings a wealth of knowledge and skills to the board. Throughout her career, she has demonstrated her ability to effectively execute successful marketing campaigns. She has also shown her entrepreneurial spirit as a key player in opening and managing a very successful multimillion-dollar revenue company in British Columbia, Canada. Her proven record of managing operations, creating strategies, overseeing hiring and training, managing finances, maintaining client relationships, and enforcing industry regulations makes her an invaluable asset to the board.

"Heading into the coming period, we expect significant growth from many of our current accounts and adding new accounts. We feel adding Pegah to the team will allow us to hire and manage more employees effectively as we continue our pursuit of making The Yumy Candy Company the world's leading confectionary," stated Ms. Williams.

Further, the company expects to engage on-line marketing for a sum of $350,000 (U.S.) to broaden the company's reach within the investment community, increasing investor awareness of the company and attracting potential new investors through various on-line platforms and methods of engagement. The marketing services include project management and consulting for an on-line marketing campaign, co-ordinating marketing actions, maintaining and optimizing AdWords campaigns, adapting AdWords bidding strategies, optimizing AdWords ads, and creating and optimizing landing pages. The promotional activity will occur by e-mail, Facebook and Google.

Yumy Bear is an affordable health-conscious low-sugar plant-based confectionery company based in Vancouver, B.C., and it has developed a portfolio of healthier gelatin-free candies made from non-genetically modified organism ingredients with proprietary recipes. All of its products are free of gelatin, soy, gluten, nuts, dairy, eggs, sugar alcohols, artificial sweeteners and genetically modified organisms.

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