Real Good Foods Highlights Strong Sales and Velocity Growth in Recent SPINS Data

Rhea-AI Summary

Real Good Foods (Nasdaq: RGF) reported robust sales growth in its recent SPINS performance data ending January 23, 2022. Notably, the frozen food category grew 5.6%, while the Health & Wellness segment rose 11.5%. Real Good Foods' overall brand sales surged by 63%, with core product sales (Entrée and Breakfast items) increasing by an impressive 162%. Furthermore, upward revisions indicated a growth of 69% in the four-week period and 44% in the twelve-week period compared to the previous year. The company aims to provide nutritious comfort foods across various dining occasions.

Positive

• Overall brand sales grew by 63% over the four-week period.
• Core products (Entrée and Breakfast) surged by 162%.
• SPINS data revisions showed a growth of 69% and 44% over prior periods.

Negative

• None.

CHERRY HILL, N.J., Feb. 9, 2022 /PRNewswire/ -- The Real Good Food Company, Inc. (Nasdaq: RGF) ("Real Good Foods" or the "Company"), an innovative, high-growth, branded, health- and wellness-focused frozen food company, today released the U.S. SPINS retail scanner performance data across all of its products from the most recent period ending January 23, 2022⁽¹⁾. For perspective, SPINS data captures consumption data in the Food, Drug and Mass retail channel, which represents approximately 50% of the Company's sales.

Real Good Foods Highlights Strong Sales and Velocity Growth in Recent SPINS

• The overall Frozen category⁽²⁾ grew 5.6% over the four week period.
• The Health & Wellness Frozen Food subcategory⁽²⁾, which includes Health and Wellness focused brands like Real Good Foods, grew 11.5% over the four week period.
• Real Good Foods brand in total grew 63% over the four week period, compared to 57% over the twelve week period.
• Real Good Foods core products, which include Entrée and Breakfast items, grew 162% over the four week period.
• Real Good Foods Brand velocities grew 119%, and base dollar sales velocities grew 111%.

In addition, certain new products introduced within the last 90 days, are now included in SPINS database retroactively and resulted in SPINS restating RGF sales higher for the previous period ending 12/26. For the four-week and twelve-week period ending 12/26, sales were revised upwards by $426,473 implying growth of 69% vs. YAG in prior 4 weeks (previously reported 56%) and 44% vs. YAG in prior 12 weeks (previously reported 40%).

Sources: 1. SPINS Total US MULO, excluding Costco, dollar sales for 4-week and 12-week ending January 23, 2022. All comparisons in this paragraph are to the same measured period in the prior year. 2. The "Overall Frozen Category" and "Health & Wellness Frozen" category excludes Frozen and Refrigerated Meat, Poultry & Seafood.

About The Real Good Food Company

Founded in 2016, Real Good Foods believes there is a better way to enjoy our favorite foods. Its brand commitment, "Real Food You Feel Good About Eating," represents the Company's strong belief that, by eating its food, consumers can enjoy more of their favorite foods and, by doing so, live better lives as part of a healthier lifestyle. Its mission is to make craveable, nutritious comfort foods that are low in carbohydrates, high in protein, and made from gluten- and grain-free real ingredients more accessible to everyone, improve human health, and, in turn, improve the lives of millions of people. Real Good Foods offers delicious and nutritious options across breakfast, lunch, dinner, and snacking occasions, with availability in over 16,000 stores nationwide, including Walmart, Costco, Kroger, and Target, and directly from its website at www.realgoodfoods.com. Learn more about Real Good Foods by visiting its website, or on Instagram at @realgoodfoods, where it has one of the largest social media followings of any brand within the frozen food industry today with nearly 400,000 followers.

For interviews with Bryan Freeman, Executive Chairman, email realgoodfoods@powerdigital.com. 

Media Contact
Nikole Johnston
realgoodfoods@powerdigital.com

Investor Contact
Chris Bevenour
ir@realgoodfoods.com

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SOURCE Real Good Foods

FAQ

What were Real Good Foods' sales growth figures for January 2022?

Real Good Foods reported a 63% sales growth overall for the four-week period ending January 23, 2022.

How did Real Good Foods' core products perform in recent SPINS data?

Core products, including Entrée and Breakfast items, grew by 162% in the four-week period.

What is the growth rate of the Health & Wellness frozen food category?

The Health & Wellness frozen food category grew by 11.5% during the same four-week period.

How has Real Good Foods revised its sales figures?

Sales were revised upwards by $426,473, indicating a growth of 69% compared to the previous year's similar period.