Bergio International Streamlines Operations Leading to Cost Efficiencies
Bergio International (OTC PINK:BRGO) is set for significant growth following operational changes, including a new fulfillment center in Pennsylvania. These adjustments have led to a nearly $400,000 annual reduction in operating costs. CEO Berge Abajian highlighted that the expired contracts from the previous owners have allowed the company to implement cost-saving measures. Although a soft 3rd Quarter is anticipated, a profitable Q4 is expected due to new product launches and promotions. Initiatives taken are projected to positively impact financial results in Q4 and into Q1 of 2023.
- Operational changes leading to a projected nearly $400,000 reduction in annual operating costs.
- New fulfillment center expected to enhance supply chain efficiency.
- New product launches and promotions are anticipated to drive sales growth in Q4.
- Anticipation of a soft Q3 performance as a historically slow quarter.
FAIRFIELD, NJ / ACCESSWIRE / October 19, 2022 / Bergio International, Inc. ("Bergio," or the "Company") (OTC PINK:BRGO), an American holding corporation and global leader in fine and fashion jewelry has set a strong operational foundation for stellar growth in Q4. The company has tightened its supply chain logistics with a state-of-the-art operations and fulfillment center in Pennsylvania. The reorganization has led to a significant decrease in costs which is a cost-per-piece model.
Fixed and variable operating costs have dramatically lowered to almost
Berge Abajian, CEO, Bergio International stated, "The cost savings measures needed to be implemented when we acquired the majority of Aphrodite's but the contractual agreements that the previous owners signed limited our ability to move forward, now that those agreements have expired we have moved forward with our plans."
He continues, "We have worked diligently on improving the balance sheet, reducing our costs, and pivoting our vertical supply chain management. We will see the impact of these positive initiatives to hit the bottom line in the 4th Quarter and fully in the 1st Quarter of 2023."
Berge continued, "We expect a soft 3rd Quarter as it's the slowest quarter of the year but a profitable Q4 is expected with all the cost-savings measures that we've implemented. And, we will also continue to lead in the eCommerce fashion silver and gold jewelry space this year".
About Bergio International, Inc.
The Bergio brand, the primary portfolio asset, is associated with high-quality, handcrafted, and individually designed pieces with a European sensibility, Italian craftsmanship, and a bold flair for the unexpected. Established in 1995, Bergio's signature innovative design, coupled with extraordinary diamonds and precious stones, earned the company recognition as a highly sought-after purveyor of rare and exquisite treasures from around the globe. With family jewelry roots reaching back to the 1930s, founder, CEO, and designer Berge Abajian is a third-generation jeweler, blending superior knowledge in design and manufacturing to create unparalleled collections in craftsmanship and style. The Bergio brand features fine jewelry, silver fashion jewelry, bridal, couture, and leather accessories, ranging in price from
This press release includes forward-looking statements regarding our business strategy and plans as well as expectations of future growth, all of which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical in nature and include those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including changes in the general economy; changes in demand for the Company's products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company's previous filings with the U.S. Securities and Exchange Commission, including those detailed under the caption "Risk Factors" in our Annual Report for the year ended December 31, 2019 filed with the SEC. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the "Act") protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Investor Relations
John Guercio
jpguercio@aol.com
(845) 216-3100
SOURCE: Bergio International, Inc.
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