The Alkaline Water Company Announces Plan for Pathway to Profitability with an Estimated $4.5-$5 Million in Annual Savings

The Alkaline Water Company Announces Plan for Pathway to Profitability with an Estimated .5- Million in Annual Savings
CANNANNEW REPORT

Company Management Has Identified Significant Expense Reductions and Margin Enhancements To Enhance the Company’s Bottom Line (All amounts are in U.S. dollars) SCOTTSDALE, Ariz.–(BUSINESS WIRE)–The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), the country’s largest independent alkaline water company and the Clean Beverage® company, today announced it has identified an estimated $4.5-$5 million in annual expense reductions and margin enhancements, once fully implemented, as part of an ongoing plan to put the Company on a pathway to profitability. “We are committed to continue driving topline sales in fiscal year 2023 through new-store expansion and organic growth, despite economic headwinds,” said Alkaline88 President and CEO, Frank Lazaran. “While focused on continued sales growth, the Company will emphasize a pathway to profitability in order to improve the bottom line and enhance shareholder value. “During the past 30 days, we have undergone an extensive and thorough Company-wide review in which we’ve identified $4.5-$5 million in annual profit enhancements to be implemented over the next twelve months. This review is ongoing to determine additional areas of savings and we will keep our shareholders updated regularly on our progress.” The Company has broadly identified cost-saving measures including: Adding strategic copacking partners to decrease freight costs and expand capacity to support anticipated record sales Increasing efficiencies with copackers and raw material providers to boost margins on finished products Eliminating redundancies and inefficiencies in third-party services and partnerships Evaluating overall structure and productivity of the Company Initiating a more disciplined capital management approach Company Management will share more details on their pathway to profitability, positive Alkaline88® brand momentum, and fiscal year 2023 revenue guidance on their upcoming full year fiscal 2022 earnings call. The call will take place on Thursday, July 14th, 2022 after market close. Specific details to follow. About The Alkaline Water…

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Source : The Alkaline Water Company Announces Plan for Pathway to Profitability with an Estimated .5- Million in Annual Savings

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