The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company, announced that it has identified an additional $2 million in annual expense reductions and margin enhancements it can make. These key adjustments were identified as the company has implemented a company-wide pathway to profitability evaluation and review. Through the process, the company has identified an estimated $7 million in annual cost-saving measures that can be implemented. These measures come as the company is also expanding its footprint. The company noted that, since April 1, 2022, Alkaline88(R) has added more than 8,400 new retail locations and has expanded SKUs in some 14,000 existing client locations. According to the announcement, WTER is already close to meeting its goals for Q2. “Working closely with our new Project Management Office and department heads, we’re pleased to announce that we’ve identified approximately $2 million more in expense reductions and margin enhancements since our last earnings call, for an annual savings of $7 million once fully implemented,” said Alkaline88 president and CEO Frank Lazaran in the press release. “We promised our shareholders discipline and accountability as we carve out The Alkaline Water Company’s pathway to profitability. We have a strong sense of urgency to make good on that promise as we work diligently to optimize our company’s infrastructure, processes and partnerships to achieve sustainable profitable growth. . . . Our trusted client relationships themselves present even more opportunity for Alkaline88 to continue to improve as a brand by working closely with our retailers across the country to expand our brand and drive higher sales velocity. We are working hard to optimize every facet of our business so that we see improved margins in those sales.”
To view the full press release, visit https://ibn.fm/Iu016
About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with ecofriendly aluminum packaging options. With its innovative, state-of-the-art, proprietary electrolysis process, Alkaline88(R) delivers perfect 8.8 pH-balanced alkaline drinking water with trace minerals and electrolytes and boasts the company’s trademarked Clean Beverage label. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and as a celebrity brand ambassador for the Alkaline88. To learn more about the company, please visit www.Alkaline88.com and www.TheAlkalineWaterCo.com.
NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at http://ibn.fm/WTER
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