Pacific Ventures Group Announces 54% Revenue Growth to $3.8 Million for August 2021

Rhea-AI Summary

Pacific Ventures Group (OTC PINK: PACV) reported a 54% revenue growth in August 2021, achieving $3.8 million in revenue compared to August 2020. The growth is attributed to increasing orders from both new and existing customers, highlighting the company's effective customer service and expansion strategies. CEO Shannon Masjedi emphasized the positive impact of returning crowds at Petco Park and the company's ability to surpass internal forecasts. These developments suggest robust market demand and a solid operational position.

Positive

• August 2021 revenue reached $3.8 million, a 54% increase from August 2020.
• Growth attributed to new and existing customer orders, indicating strong demand.
• Company successfully outpaced internal forecasts.

Negative

• None.

Outstanding Customer Service Continues to Accelerate Revenue

LOS ANGELES, CA / ACCESSWIRE / October 12, 2021 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (the "Company"), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, is pleased to announce that the Company generated $3.8 million revenue in the month of August 2021. This 54% growth over August 2020 is due to both new and existing customers increasing their orders.

Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "This 54% growth to $3.8 million revenue for August was drive by our continued outstanding customer service and timely expansion plans, as were well-positioned to take advantage of increased demand from our customers. For example, Petco Park returned to sizable crowds to watch the San Diego Padres finish out their baseball season. We are very pleased with our performance as we continue to outpace our internal forecasts."

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC:PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

Investors Contact:

ir@pacvgroup.com

SOURCE: Pacific Ventures Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/667603/Pacific-Ventures-Group-Announces-54-Revenue-Growth-to-38-Million-for-August-2021

FAQ

What revenue did Pacific Ventures Group report for August 2021?

Pacific Ventures Group reported $3.8 million in revenue for August 2021.

How much did Pacific Ventures Group grow its revenue compared to August 2020?

Pacific Ventures Group achieved a 54% growth in revenue compared to August 2020.

What factors contributed to Pacific Ventures Group's revenue growth?

The revenue growth was driven by increased orders from new and existing customers.

What is the stock symbol for Pacific Ventures Group?

The stock symbol for Pacific Ventures Group is PACV.

Who is the CEO of Pacific Ventures Group?

Shannon Masjedi is the CEO of Pacific Ventures Group.