Pacific Ventures Group's April 2021 Revenue Expected at $3.6 Million, a 91% Increase over April 2020

Rhea-AI Summary

Pacific Ventures Group, Inc. (OTC: PACV) reported a remarkable revenue of $3.6 million for April 2021, marking a 91% increase compared to April 2020. This growth is attributed to the lifting of COVID-19 restrictions in California, leading to a resurgence of past customers and new business. The revenue reflects a growth from $2.7 million in March 2021 and $7.3 million for Q1 2021. CEO Ms. Shannon Masjedi expressed optimism about the ongoing business recovery. However, the company faces risks related to financing and operational stability.

Positive

• 91% revenue growth year-over-year for April 2021.
• Revenue increased to $3.6 million in April 2021, up from $2.7 million in March 2021.
• Return of past customers and new business contributing to sales growth.

Negative

• Risks associated with financing may impact operational stability.
• Uncertainties inherent to smaller reporting companies.

Sales Continue to Ramp as Restrictions Lift in California

LOS ANGELES, CA / ACCESSWIRE / June 30, 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, announced today that the Company generated $3.6 million revenue in the month of April 2021. As California continued to lift restrictions, the Company witnessed an increase in sales, as demonstrated by this 91% growth over April 2020.

Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "We are thrilled with our April results, as we continue to see an increase in business as restrictions lift in California. Past customers returning and new customers accelerating their business are both contributing to the success. This 91% growth to $3.6 million revenue for April alone compares very favorably to the $2.7 million revenue in March 2021 and $7.3 million for the entire first quarter of 2021."

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/653681/Pacific-Ventures-Groups-April-2021-Revenue-Expected-at-36-Million-a-91-Increase-over-April-2020

FAQ

What was Pacific Ventures Group's revenue for April 2021?

Pacific Ventures Group generated $3.6 million in revenue for April 2021.

How much did Pacific Ventures Group's revenue grow compared to April 2020?

The company's revenue grew by 91% compared to April 2020.

What were the revenue figures for Pacific Ventures Group in March 2021?

The revenue for March 2021 was $2.7 million.

What is the stock symbol for Pacific Ventures Group?

The stock symbol for Pacific Ventures Group is PACV.

What are the risks mentioned by Pacific Ventures Group in their press release?

The company mentioned risks related to financing and inherent uncertainties of smaller reporting companies.