PACIFIC VENTURES GROUP - PACV STOCK NEWS

Pacific Ventures Group, Inc. (OTC PINK:PACV) announced significant financial results for the full year and fourth quarter of 2021. Revenues soared by 39% to a record $42.0 million, with fourth-quarter revenues up 58% to $11.5 million. Gross profit also climbed 45% to $4.9 million, with a gross margin of 11.6%. Although operating expenses rose to $8.3 million, net loss improved slightly to $5.6 million, or $(0.18) per share. The company highlights growth opportunities and efficiency improvements as it aims for further expansion in 2022.

Pacific Ventures Group (OTC PINK:PACV) has engaged MZ Group for a strategic investor relations and financial communications initiative. This collaboration aims to enhance visibility within the investment community and highlight the company's 33% revenue growth to $30.5 million in the first nine months of 2021, surpassing industry expectations. The firm plans to leverage its operating subsidiaries to capitalize on consumer demand and improve operational efficiencies. Upcoming initiatives include the launch of SeaportSteak.com for online meat distribution and ongoing acquisition strategies.

Pacific Ventures Group (PACV) reported a significant 33% year-over-year revenue growth, totaling $30.5 million for the first nine months of 2021. Gross profit increased by 40% to $3.5 million, with gross profit margins rising to 11.6%. However, the company faced a net loss of $4.5 million, up from $3.9 million in 2020. Operating expenses also grew to $6.1 million, primarily due to increased SG&A, marketing, and professional fees. As of September 30, 2021, cash and cash equivalents amounted to $0.5 million.

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.

Pacific Ventures Group, Inc. (OTC PINK: PACV) has announced the upcoming launch of SeaportSteak.com, a direct-to-consumer website offering high-quality meat products. Set to launch in early 2022, the platform will leverage the company's existing supply chain and direct access to premium meats. CEO Shannon Masjedi emphasized that this move allows the company to provide restaurant-quality meats at competitive prices, enhancing margins and net profits. SeaportSteak aims to differentiate itself from competitors such as ButcherBox and Omaha Steaks by being a direct producer of meat.

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.

Pacific Ventures Group, Inc. (OTC PINK:PACV) reported strong financial results for Q2 2021, with revenue reaching $11.6 million, up 33% from the previous year. The gross profit increased by 35% to $1.4 million, leading to a gross margin of 11.7%. Operating expenses decreased to 18.1% of revenue, reflecting improved business efficiency. However, the company still faced a net loss of $1.2 million for the quarter. Management remains optimistic as business activities recover and order volumes rise.

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.

Pacific Ventures Group, Inc. (OTC PINK:PACV) reported a significant revenue increase of 13%, totaling $6.65 million for the three months ended March 31, 2021. This growth is attributed to the easing of COVID-19 restrictions in California, particularly in San Diego County, leading to a resurgence in client orders and business activity.

CEO Shannon Masjedi expressed optimism for continued revenue growth as restrictions lift further, noting the company has expanded sourcing and production capacities to meet rising demand.