Reis & Irvy’s Announces 500,000 Cups Sold and $2.5m in Retail
Sales
Company
Repeats the Expectation for $8.0 Million in Revenue for
the Fourth Quarter
SAN DIEGO, CA -- June 24, 2019 -- InvestorsHub NewsWire -- Reis
& Irvy’s franchisees have sold in excess of 500,000 cups of
frozen yogurt generating $2.5 million in retail sales according to
Generation Next. The Company passed these milestones on Wednesday,
June 19. Reis & Irvy's is the Company’s flagship brand which
serves Dannon YoCream frozen yogurt through an unattended, robotic
kiosk.
Generation Next also reaffirmed its expectation to realize
revenue of $8.0 million for its fourth quarter ending June 30, 2019
on the delivery of 200 kiosks compared to revenue of $3.0 million
recognized during the prior quarter on 55 units. The Company starts
its next fiscal year on July 1, 2019 with a global contract backlog
valued at an estimated $140 million in revenue for just
under 3,500 Reis
& Irvy’s robotic vending kiosks.
“The results for the quarter are satisfactory and we are glad to
hit our projections. With fiscal 2020 just around the
corner, I would like to see us improve revenues significantly
via a combination of increased domestic installs and more shipments
made to both current and new international license partners,” said
Nick Yates, CEO of Generation Next Franchise Brands.
Sales Per Kiosk, SPK, is a key metric tracked by Company
management. Generation Next provided an update on these
measures for its top locations by comparing the data available from
the most recent four-week period to the data from March when the
Company introduced this measure. The Top 25 and Top 50 groups
are 16% and 20% higher respectively during the last four
weeks.
Group |
May 19 - June 16 |
March |
Top 25 |
35.0 Transactions Per Day
$5.67 Per Transaction |
29.6 Transactions Per Day
$5.77 Per Transaction |
Top 50 |
26.6 Transactions Per Day
$5.47 Per Transaction |
23.2 Transactions Per Day
$5.25 Per Transaction |
Another measure, Kiosk Uptime and Availability, KUA, was shared
by Generation Next. During the last four weeks, the Company had 95
locations reporting sales 7 days per week for 4 consecutive weeks
compared to 48 locations using the same 7 day per week criteria in
March. It is also important to note that many locations secured by
the Company only operate 5-days per week. Consistent monthly
production has allowed the Company to install a Reis
& Irvy’s kiosk within 60 to 90 days of securing a
location which is beneficial to both securing more sites
and attracting interest from the top tier locations.
“We continue to tighten the criteria used to secure locations
and we are devoting more resources to support our franchise network
through marketing, promotion, and operations training,” said Yates.
“Our purpose is to sell more frozen yogurt and continue shifting
market share from existing retailers to the Reis
& Irvy’s brand.”
For more information, visit Generation NEXT
Website: www.gennextbrands.com or
call Toll-Free (888) 902-7558.
About Generation NEXT Franchise Brands,
Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego,
California, is a publicly traded company on the OTC Markets trading
under the symbol OTCBB: VEND. Generation NEXT Franchise Brands,
Inc. is parent company to Reis and Irvy’s Inc and 19 Degrees
Corporate Service LLC
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of
Generation NEXT Franchise Brands, Inc. (VEND). Launched in early
2016, the revolutionary Reis & Irvy’s Vending Robot serves
seven different flavors of frozen yogurt, ice cream, sorbets and
gelatos, a choice of up to six custom toppings, and to customers
within 60 seconds or less at the point of sale. The unique
franchise opportunity has since established itself as a high-demand
product and currently showcases a franchise network both
domestically as well as internationally. Visit Reis & Irvy’s
website - www.reisandirvys.com
This information is not intended as an offer to sell, or the
solicitation of an offer to buy, a franchise. It is for
information purposes only. No Reis & Irvy’s franchises will be
sold to any resident of any state until the offering has been
exempted from the requirements of, or duly registered in and
declared effective by, such state and the required FDD (if any) has
been delivered to the prospective franchisee before the sale in
compliance with applicable law. Currently, the following states in
the United States regulate the offer and sale of franchises:
California, Hawaii, Illinois, Indiana, Maryland, Michigan,
Minnesota, New York, North Dakota, Oregon, Rhode Island, South
Dakota, Virginia, Washington, and Wisconsin. If you reside in one
of these states, or even if you reside elsewhere, you may have
certain rights under applicable franchise laws or
regulations.
Cautionary note on forward-looking statements
This press release contains “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, as
amended. Forward-looking statements include, among others,
statements concerning our future financial performance, including
statements regarding: our ability to generate revenue and recognize
deferred revenue; our ability to timely launch delivery and
installation of our frozen yogurt robots; and our ability to grow
our franchising and licensing divisions and launch our
corporate-owned and direct sales platforms. The Company bases these
forward-looking statements on its current expectations, estimates
and projections about future events and the industry in which it
operates using information currently available to it. Actual
results could differ materially from those discussed in, or implied
by, these forward-looking statements. Forward-looking statements
are identified by words such as “believe,” “anticipate,” “propose,”
“expect,” “intend,” “plan,” “will,” “may,” “estimates,” variations
of such words and other similar expressions. In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements. Factors that could cause actual results
to differ from those implied by the forward-looking statements
contained in this press release are set forth in our filings with
the Securities and Exchange Commission (SEC), including our most
recent Annual Report on Form 10-K for the year ended June 30, 2018,
our Quarterly Reports, and our Current Reports on Form 8-K. Be
advised that developments subsequent to this press release are
likely to cause these statements to become outdated and the Company
is under no obligation (and expressly disclaims any such
obligation) to update or revise any forward-looking statements
whether as a result of new information, future events, or
otherwise.
Contact:
Andrew Beach
Andrew.beach@gennextbrands.com