EAST RUTHERFORD, NJ — MamaMancini's Holdings, Inc. (the "Company" or "MamaMancini's") (OTCQB: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated all natural food products (as defined by the United States Department of Agriculture), today announced that it has received new authorizations for distribution representing over 2200 new product placements which will be in supermarkets prior to January 1, 2016.
The locations of the new authorizations include Safeway and Albertsons in Arizona and the Southwest, Safeway in Colorado and Mountain States for both deli and meat department, Albertson's first distribution in Idaho and surrounding area (previously announced), Randalls in Texas, Safeway in the Mid Atlantic (Maryland, Washington DC, Va), Associated Grocers in Maine, Whole Foods Colorado and Mountain States, and expanded distribution at Lowes Supermarkets in the Southeast (from a prior limited store test). The Company expects to announce several new authorizations in the next several months as it expands its distribution across the country.
In addition, MamaMancini's has expanded its all natural products offered on QVC from two items to seven since September 1. QVC is the World's Largest Direct to Consumer Marketer. New items are five cheese stuffed turkey and five cheese stuffed beef meatballs, pork meatballs, mini beef meatballs and mini pork meatballs. This is in addition to the Beef Meatballs and Turkey Meatballs which have already been available on QVC. All MamaMancini items include its Authentic Slow Cooked Sauce. To implement the expansion of it's offerings on QVC, Dan Mancini will have appeared live on air on QVC from October 28, through November 18 five times.
The Company has also expanded its participation in the Costco North Eastern Market Place Event in December by 40% over prior commitment. The Company will feature four of its products in special merchandising locations at select Costco stores.
The Company believes it is on target to meet its previously announced goal of cash operating profits this fall based upon improved gross margin, lowering of operating overhead, elimination of unprofitable customers, and adding new customers in the fresh section of supermarkets.
About MamaMancini's
MamaMancini's is a marketer and distributor of a line of beef meatballs with sauce, turkey meatballs with sauce, chicken meatballs with sauce, pork meatballs with sauce, and other similar Italian products. The Company's sales have been growing on a consistent basis as the Company expands its distribution channel, which includes major retailers such as Costco, Publix, Shop Rite, Price Chopper, Harris Teeter, SaveMarts, Luckys, Lunds/Byerly's, SuperValu, Raley's, BJ's, Whole Foods, Shaw's Supermarkets, Kings, Key Foods, Stop-n-Shop, Giant Stores, Giant Eagle, Food Town, Kroger, Winn Dixie Shoppers, Marsh's Supermarkets, Bi-Lo, Central Markets, Weis Markets, Ingles, and The Fresh Market.
Forward Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2015 and other filings made by the Company with the Securities and Exchange Commission.
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Source: MamaMancini's
