iFresh Announces Affordable Face Masks Available for Sale
April 02 2020 - 8:30AM
iFresh, Inc. ("iFresh" or the “Company") (Nasdaq: IFMK), a leading
Asian American grocery supermarket chain and online grocer,
announced today that the Company has launched sales of 3-ply
disposable face masks at an affordable price to customers in iFresh
chain stores, the iFresh online store at www.onlineifresh.com, and
via the Amazon marketplace. The first shipment of 200,000
disposable face masks arrived in New York last week, produced by
Xiamen DL Medical Technology Co. Ltd., (“Xiamen DL”), a 70% owned
subsidiary of the Company. Ximen DL is ramping up production of N95
face masks in response to the New York and nationwide shortage of
face masks as a result of the Covid-19 outbreak.
Mr. Long Deng, Chief Executive Officer and Chairman of iFresh
commented: “We continue to execute on our business strategy and
demonstrate our ability to drive sales through online and offline
stores despite the challenging market situation due to the Covid-19
pandemic. An increase in face mask production has been rolled out
in an effort to optimize the Company’s manufacturing abilities to
increase our supply of face masks for iFresh customers, as well as
other Asian supermarkets. Most importantly, iFresh’s online grocery
delivery service is now available and has become one of the most
popular options in our communities during this special period. The
management team remains confident about the Company’s steady growth
in 2020 and beyond.”
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 on the east coast of U.S. 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 Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook",
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include timing
of the proposed transactions; the business plans, objectives,
expectations and intentions of the parties once the transactions
are complete, and the Company’s estimated and future results of
operations, business strategies, competitive position, industry
environment and potential growth opportunities. These
forward-looking statements reflect the current analysis of existing
information and are subject to various risks and uncertainties. As
a result, caution must be exercised in relying on forward-looking
statements. Due to known and unknown risks, our actual results may
differ materially from our expectations or projections. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. All information provided in this press release is as
of the date hereof. Other than as required under the securities
laws, the Company does not assume a duty to update these
forward-looking statements.
Additional information concerning these and other factors that
may impact our expectations and projections can be found in our
periodic filings with the SEC. IFMK's SEC filings are available
publicly on the SEC's website at www.sec.gov. IFMK disclaims
any obligation to update the forward-looking statements, whether as
a result of new information, future events or otherwise.
For more information, please contact:At the Company:
iFresh, Inc.
Email: herinyin@newyorkmart.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f6e87305-fdfa-4367-9ac6-6fd94d5754c3
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