Expects Preliminary Net Sales of $9.5 Million for the Fiscal Fourth Quarter Ended July 31, 2020
Provides Net Sales Guidance Range of $30 to $35 Million for the Fiscal First Quarter Ended October 31, 2020
LAS VEGAS–(BUSINESS WIRE)–Boomer Naturals (the “Company”) (OTC: BOMH), a health and wellness company, today provided a business update on the Company’s operations.
Boomer Naturals Launches PPE Division
- In April 2020, the Company expanded its health and wellness offerings to include personal protection equipment (PPE), featuring its doctor-recommended, W.H.O. compliant, three-layer cotton/polyester reusable face mask enhanced with nano-silver technology. The Company offers a full range of personal health products to include: hand sanitizer, safety gloves, nano-silver gaiters, single use masks, ear savers, face shields, and safety glasses. Product demand has exceeded expectations and the Company has accordingly experienced significant sales growth.
- Boomer Naturals begins direct shipment of its flagship PPE products to a national pharmacy chain with over 5,000 locations. To date, Boomer Naturals has received orders of more than $9 million from this national retailer.
- In response to strong wholesale demand of the Company’s PPE offerings, Boomer Naturals launches Boomer Digital, a digitally enabled wholesale arm of the PPE Division serving small to enterprise businesses, with an online platform at www.ppemarket.com
Boomer Naturals Healthy Living Continues to Expand Distribution and Awareness
- Boomer Naturals’ flagship Boomer Botanics products which come in a variety of sizes, flavors, and applications including tinctures, gummies, pain relief products (e.g., roll-ons and creams), have seen sales continue to grow during the COVID-19 pandemic. These products can be found online at boomernaturals.com. The Company also produces the Tommy Bahama+Boomer Naturals co-branded collection of wellness products that are available nationwide at Tommy Bahama retail locations and tommybahamawellness.com.
- Boomer Naturals achieves positive traction with its SKIN Sunscreen and medical- grade skin care products for consumers and wholesale distribution.
Boomer Naturals Enhances Supply Chain Capabilities
- Boomer Naturals fortifies its PPE product sourcing in Vietnam. The Company’s leadership team enjoys long-standing, personal relationships in Vietnam, a country with robust manufacturing capabilities and provides a reliable supply source.
- The Company secures exclusive supply agreements with its primary face mask manufacturers for the North American market.
- The Company expands its warehouse footprint to accommodate increased order volumes. Warehouse capacity has tripled since April 2020 and now stands at 30,000 square feet.
Boomer Naturals Grows eCommerce Business
- More than 200,000 orders have been processed year-to-date across the Company’s three consumer-facing websites: www.boomernaturals.com, www.tommybahamawellness.com, and www.boomerfacemasks.com. These orders were heavily concentrated in the prior three-month period when an average of more than 2,000 orders were received daily.
- The Company plans to continue airing promotional/educational content on national television, radio and social media platforms to educate consumers and increase overall brand awareness. This direct-to-consumer interaction is expected to generate significant online sales through the Boomer Naturals website.
Boomer Naturals Launches “Prepare & Protect Initiative”
- Boomer Naturals has partnered with more than 35 organizations to donate high-quality nano-silver face masks. These organizations include, but are not limited to, those that support veterans, the homeless, and healthcare/nursing home facilities. The Company has committed to donating a face mask for each face mask online order, which has resulted in the donation of more than 135,000 face masks to date.
Boomer Naturals Hires Strategic Communications Firm
- Boomer Naturals has retained ICR, a leading strategic communications and advisory firm, to assist the Company with its public and investor relations activities. The hiring of ICR will help the Company improve its communication and visibility with the media and investment communities. ICR was founded in 1998 and is deeply staffed with former sell-side analysts, Wall Street professionals, global agency veterans and corporate communications leaders with extensive experience in the capital markets. The firm represents approximately 600 corporate clients globally, ranging from emerging, pre-IPO companies to mature multinationals.
Management Comments and Sales Guidance
Mike Quaid, the Company’s Chief Executive Officer, stated, “Our company elected to begin supplying PPE in response to the urgent need for such products and our unique access to manufacturing capacity in Vietnam. In addition to feeling morally compelled to do so, we considered it a natural extension of our established health and wellness product lines. The response from customers, and now retailers, to our superior products has been overwhelming. We believe the Company is positioned for significant growth this fiscal year driven by the extension of our product portfolio, strengthened supply chain, R&D initiatives, and planned market expansion.”
Prompted by eCommerce sales trends and the impact of our recently executed supply agreement with a large national retailer, we are pleased to provide guidance for our recently completed fiscal year end on July 31, 2020 and for the current fiscal quarter which will end on October 31, 2020.
- Net sales for the fourth quarter ended July 31, 2020 are expected to reach approximately $9.5 million, primarily from the Company’s recent expansion into the PPE industry. The Company plans to file its 10-K by the end of September.
- The Company estimates sales of between $30 million and $35 million for the current fiscal quarter ending October 31, 2020.
Key management assumptions supporting the updated guidance include increased customer and wholesale buying patterns of our PPE offerings, relaxed restrictions on non-essential store openings and consumer demand for Boomer Botanics products.
About Boomer Naturals
Boomer Naturals is a wholly owned subsidiary of Boomer Natural Holdings, a publicly traded company (OTC:BOMH). Boomer Naturals is a full-service wellness company that provides products and services that enhance your well-being and increase your quality of life. Boomer Naturals has two divisions, Healthy Living and Personal Protection Equipment. Healthy living established in 2019 is centered around an all-natural, doctor formulated alternative to CBD, known as Boomer Botanics. Boomer Naturals’ healthy living products can be used to help overcome symptoms associated with physical, mental, and emotional well-being challenges. Product lines include Boomer Botanics, Golf Botanics, Pet Botanics, Tommy Bahama+Boomer Naturals CB5, SKIN Sunscreen and medical grade skin care products. Boomer Naturals PPE established in 2020, offers consumers and businesses PPE of the highest quality with industry leading reliability. Boomer Naturals’ products are available online at BoomerNaturals.com, PPEmarket.com, Boomer Naturals retail store as well as Tommy Bahama retail locations, TommyBahamaWellness.com, and resorts and golf shop across the country. For more information, please visit www.boomernaturals.com.
Forward Looking Statements
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation, economic, political, regulatory, capital markets and other external conditions and other factors beyond the Company’s control, risks related to public health crises such as the global pandemic associated with the coronavirus (COVID-19), and those set forth as “Risk Factors” in our filings with the Securities and Exchange Commission (“SEC”). There may be other factors not mentioned above or included in the Company’s SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.