Sleep-Friendly Nightfood Ice Cream Pushes Haagen Dazs in Head-to-Head Hotel Lobby Sales

Rhea-AI Summary

Nightfood Holdings, Inc. (OTCQB: NGTF) has reported strong sales performance for its sleep-friendly ice cream pints in November, capturing 42% of pint sales in a dataset of 29 hotels, surpassing Haagen Dazs in 38% of those locations. CEO Sean Folkson highlighted that this data reinforces the appeal of sleep-friendly snacks among hotel guests. The company is enhancing its distribution strategy, partnering with major distributors to broaden its market presence. Nightfood aims to capitalize on the $50 billion nighttime snacking market.

Positive

• 42% market share of pint sales in 29-hotel data set for November.
• Outsold Haagen Dazs in 38% of hotels surveyed.
• Five consecutive months of strong sales data.
• Initiatives for wider distribution through partnerships with major broadline distributors.

Negative

• Ongoing concerns regarding guest adoption of sleep-friendly snacks.
• Slow onboarding process for new hotel chains.

Sleep-Friendly and Healthier Snacks Solve Major Problem for Hotels and Guests Looking for Wellness-Focused Options

TARRYTOWN, NY, Dec. 05, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Nightfood Holdings, Inc. (OTCQB: NGTF), the company pioneering the sleep-friendly nighttime snack category, today announced that independent Impulsify sales data show Nightfood ice cream pints continue strong relative unit sales in hotel lobby snack shops.

During November, Nightfood sold 42% of all pint unit sales in the 29-hotel data set, and outsold Haagen Dazs in 38% of the hotels.

Impulsify is an industry leader in hotel marketplace intelligence, compiling real-time proprietary retail sales data from millions of hotel retail transactions rung into their point-of-sale solutions. This sales data is used within the industry to identify emerging trends, best sellers, and to optimize product mix in lobby shops.

The reporting subset represents all 29 hotels across the country which use Impulsify technology and recorded sales of only those two brands of pint ice cream (Nightfood and Haagen Dazs) during November. Hotels which only sold Nightfood pints were excluded from the analysis, as were hotels that sold more than those two brands of pints.

“We now have five months in a row of Impulsify sales data showing Nightfood accounting for a solid 40% of the head-to-head unit volume while selling at average prices higher than Haagen Dazs,” commented Nightfood CEO Sean Folkson. “One concern we’d heard in the past from hotel decision-makers had been whether or not guests would gravitate to sleep-friendly snacks. I think this data shows that they do and they will. Onboarding new hotel chains remains a lengthy process, but we have initiated a public relations campaign to raise hotel industry awareness of Nightfood as we prepare to announce certain partnerships which we believe will accelerate adoption timelines.”

Management believes this strong relative sales data will create greater distribution opportunities for Nightfood ice cream and other Nightfood sleep-friendly snack formats. Nightfood ice cream pints were introduced into national hotel distribution in May 2022 after securing initial purchase orders a month earlier. The Company is currently in the process of completing the onboarding process with two of the largest broadline distributors in the country, making Nightfood cookies available for wholesale purchase to hotels across the United States.

About Nightfood

Nightfood is pioneering the category of sleep-friendly nighttime snacking.

Over 80% of Americans snack regularly at night, resulting in an estimated 700 million nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion. The most popular choices are ice cream, cookies, chips, and candy. Recent research confirms such snacks, in addition to being generally unhealthy, can impair sleep, partly due to excess fat and sugar consumed before bed.

Nightfood’s sleep-friendly snacks are formulated by sleep and nutrition experts to contain less of those sleep-disruptive ingredients, along with a focus on ingredients and nutrients that research suggests can support nighttime relaxation and better sleep quality.

The brand is currently focused on establishing widespread national distribution of its sleep-friendly snacks in the high-margin hotel vertical. Nightfood ice cream began rolling into hotels across the United States in May 2022.

Nightfood ice cream pints can be found in hundreds of hotels across the United States, including select locations of chains such as Courtyard by Marriott, Holiday Inn Express, Springhill Suites, Hyatt Place, Fairfield Inn & Suites and more.

Management believes hotels have an obligation to help guests achieve better sleep at every touchpoint, and one way to do that is through the snacks hotels curated for guests in hotel grab-and-go lobby shops.

With an estimated 56,000 hotels across the United States, national distribution is expected to lead to profitability, consumer adoption of the nighttime snack category, and a strategically defensible position from which category leadership can be maintained.

Questions can be directed to investors@Nightfood.com.

By signing up at ir.nightfood.com, investors can receive updates of filings and news releases in their inbox.

Forward-Looking Statements:

This current press release contains "forward-looking statements.” Statements in this press release which are not purely historical (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, sales projections, potential customers, any products sold or cash flow from operations.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, (a) the inherent uncertainties associated with distribution of our products, (b) the market acceptance of our products at all levels of distribution and sale, including retail purchasers, wholesalers, hotel chains and possibly airlines, (c) the success and commitment of our distribution partners to access distribution channels and successfully engage with sellers of our products, including, supermarkets, hotel chains and possibly airlines, and our success in obtaining purchase orders from hotel chains, supermarkets and others, (d) competition from existing and new companies and products and (e) difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time to time with the Securities and Exchange Commission.

Media Contact:

Simon Dang
simon@nightfood.com
718-635-2949

Investor Contact:

Stuart Smith
SmallCapVoice
investors@nightfood.com
888-888-6444, x3

FAQ

What sales performance did Nightfood achieve in November 2022?

Nightfood accounted for 42% of pint sales in a set of 29 hotels.

Did Nightfood outsell any competitors in hotel sales?

Yes, Nightfood outsold Haagen Dazs in 38% of the hotels surveyed.

What is the strategy for Nightfood's distribution?

Nightfood is partnering with major distributors to expand its market presence.

How long has Nightfood been selling ice cream in hotels?

Nightfood ice cream was introduced in May 2022.

What is the target market for Nightfood's products?

The target market includes the $50 billion nighttime snacking sector.