Pacific Ventures Group Announces Monthly Record Revenue of $4.3 Million for July 2021, a 68% Increase over July 2020

Rhea-AI Summary

Pacific Ventures Group (OTC PINK:PACV) reported a record revenue of $4.3 million for July 2021, reflecting a 68% increase compared to July 2020. This growth is attributed to lifting restrictions in California and increased business from new and existing customers. CEO Shannon Masjedi highlighted that sales exceeded internal forecasts due to expansions in equipment and logistics. The company continues to focus on growth within the consumer food, beverage, and alcohol sectors, emphasizing its established presence and ongoing expansion plans.

Positive

• Achieved record revenue of $4.3 million in July 2021, a 68% increase year-over-year.
• Sales exceeded internal projections, indicating strong market demand.
• Expansion efforts, including new equipment lines and trucks, support increased business.

Negative

• None.

New and Existing Customers Continue to Increase Business

LOS ANGELES, CA / ACCESSWIRE / September 14, 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 $4.3 million revenue in the month of July 2021, a new monthly record for the Company. As California continued to lift restrictions and new and existing customers ramped up their business, the Company witnessed an increase in sales, as demonstrated by this 68% growth over July 2020.

Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "Once again our sales beat our internal projections and set a new monthly record for our Company. The expansion plans we have put in place, such as additional equipment lines and trucks, have enabled us to service the additional business by new and existing customers. This 68% growth to $4.3 million revenue for July represents a single month high record for our Company."

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/663941/Pacific-Ventures-Group-Announces-Monthly-Record-Revenue-of-43-Million-for-July-2021-a-68-Increase-over-July-2020

FAQ

What is the July 2021 revenue for Pacific Ventures Group (PACV)?

Pacific Ventures Group reported a record revenue of $4.3 million for July 2021.

How much did Pacific Ventures Group's revenue grow in July 2021 compared to July 2020?

The revenue for July 2021 increased by 68% compared to July 2020.

What factors contributed to the revenue growth for PACV in July 2021?

The growth was driven by lifted restrictions in California and increased business from new and existing customers.

Who is the CEO of Pacific Ventures Group?

The CEO of Pacific Ventures Group is Shannon Masjedi.