iFresh, Inc. to Open New Supermarket in Long Island
December 03 2018 - 8:30AM
iFresh, Inc. (“iFresh” or “the Company”) (NASDAQ: IFMK), a leading
Asian American grocery supermarket chain and online grocer, today
announced its progress in opening its Glen Cove, Long Island
supermarket.
On November 29, 2018, iFresh’s Glen Cove, Long Island
supermarket received its Temporary Certificate of Occupancy, which
allows the supermarket to open to the public during the interim
period before it receives a final Certificate of Occupancy. iFresh
plans to open the Glen Cove, Long Island supermarket to customers
before the end of the calendar year.
iFresh’s new supermarket will offer a selection of specialty
Asian foods, snacks, beverages, and household items. The store will
provide fresh produce daily and also offer home delivery through
iFresh’s e-commerce platform. iFresh also plans to open locations
in North Miami, Florida and Milford, Connecticut in 2019.
Mr. Long Deng, Chief Executive Officer and Chairman of iFresh,
Inc., commented, “We see great opportunities in Long Island’s
Nassau County, given its large and growing Asian population. Among
other new features, customers at this location will have the
opportunity to purchase a variety of fresh ingredients, including
live seafood that can be prepared onsite in our food court at
competitive prices. As an example, we expect that our customers
will be able to enjoy a cooked lobster for only $10-$15, as
compared to a typical restaurant that might charge between 3 to 5
times as much for the same dish. In addition to these cost
benefits, our guests will enjoy the experience of personally
selecting ingredients and having them cooked fresh onsite. As
iFresh evolves, we will continue to innovate and offer new options
to cater to our loyal customer base.”
About iFresh, Inc.
iFresh Inc. (NASDAQ: IFMK), headquartered in Long Island City,
New York, is a leading Asian American grocery supermarket chain and
online grocer. With nine retail supermarkets along the US eastern
seaboard (with additional stores in Glen Cove, Miami and
Connecticut opening soon), and two in-house wholesale businesses
strategically located in cities with a highly concentrated Asian
population, iFresh aims to satisfy the increasing demands of Asian
Americans (whose purchasing power has been growing rapidly) for
fresh and culturally unique produce, seafood and other groceries
that are not found in mainstream supermarkets. With an in-house
proprietary delivery network, online sales channel and strong
relations with farms that produce Chinese specialty vegetables and
fruits, iFresh is able to offer fresh, high-quality specialty
produce at competitive prices to a growing base of customers. For
more information, please visit: http://www.ifreshmarket.com/.
Forward-Looking Statement
This announcement contains forward-looking statements.
Forward-looking statements provide our current expectations or
forecasts of future events. Forward-looking statements include
statements about our expectations, beliefs, plans, objectives,
intentions, assumptions and other statements that are not
historical facts. Words or phrases such as "anticipate," "believe,"
"continue," "estimate," "expect," "intend," "may," "ongoing,"
"plan," "potential," "predict," "project," "will" or similar words
or phrases, or the negatives of those words or phrases, may
identify forward-looking statements, but the absence of these words
does not necessarily mean that a statement is not forward-looking.
Examples of forward-looking statements in this announcement
include, but are not limited to, statements regarding our
disclosure concerning the Company's operations, cash flows,
financial position and dividend policy.
For more information, please contact:
At the Company:iFresh, Inc.Email: ir@ifreshmarket.com
Investor Relations:Tina Xiao Ascent Investor Relations LLC
Phone: +1-917-609-0333 Email: tina.xiao@ascent-ir.com
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