Gaithersburg, MD, Aug. 24, 2020 (GLOBE NEWSWIRE) — Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS) is excited to announce a major new customer, Meijer, Inc. (“Meijer”), one of the largest retailers in the Midwest, with more than 240 supercenters in six states. Meijer will carry the Company’s Big League Foods (“BLF”) candies corresponding to the Major League Baseball (“MLB”) teams most popular in each of its regional markets. Meijer’s stores are located in Illinois, Indiana, Kentucky, Michigan, Ohio, and Wisconsin.
BLF will install candy displays in approximately 200 of the largest Meijer stores, in key metropolitan markets such as Chicago, Cincinnati, Cleveland, Columbus, Detroit, Grand Rapids, and Milwaukee. Depending upon the regional preference, packaging will feature six teams – the Brewers, Cubs, Indians, Reds, Tigers, and White Sox.
“Meijer is routinely ranked among the top 15 food retailers in the United States, so signing a customer of this caliber will have a tremendous impact on our ability to sign other regional and national chains,” explained Verus CEO Anshu Bhatnagar. “Along with The TJX Companies’ locations, we will now have product on the shelves of two of the largest retailers in the U.S.”
BLF Shipments Update
As previously reported, store closures during the pandemic temporarily delayed shipments to The TJX Companies’ stores. The Company is pleased to report that the shipment schedule has been reinstated for T.J. Maxx and Marshalls locations. Initial shipments will include BLF candy featuring 25 of the 30 MLB teams, providing Verus coast-to-coast coverage for the first time. Based on quantities ordered, products are expected to be in approximately 1,250 stores.
Verus is also pleased to announce an additional reorder by Big 5 Sporting Goods’ stores, which will mark the third shipment to this important regional chain. Big 5 has 434 locations in 11 states, primarily in the Western U.S. and was one of the earlier chains to reopen in some regions.
“After such a long delay, we are looking forward to finally getting our products into the TJX stores, giving baseball fans all over the U.S. the ability to sample our candy for the first time,” said CEO Bhatnagar. “From a sales perspective, we are equally pleased to gain a reorder from the Big 5 chain. This is a particularly important metric for us, because it provides us a better understanding of the potential reorder pattern during the course of in-season sales activity. This quick reorder cycle bodes well for the future and shows the popularity of our MLB candy products, even during a period of reduced customer traffic. Based on our success in these smaller-format stores, we are optimistic about similar sell-through at large high-traffic venues, something we are eager to measure after our debut at T.J. Maxx, Marshalls and Meijer locations.”
About Verus International
Verus is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and on a global basis. The Company trades on the OTC market (OTCQB: VRUS). Investors can find real-time quotes and market information for the Company on www.otcmarkets.com. Additional information is also available at the Company’s website, www.verusfoods.com, and via the official Twitter feed @Verus_Foods, the Big League Foods subsidiary Twitter feed @BigLeagueFoods and the Pachyderm Labs subsidiary Twitter feed @PachydermLabs.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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