The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company, has identified significant expense reductions and margin enhancements to enhance the company’s bottom line. The company announced that this “pathway to profitability” includes an estimated $4.5 to $5 million in annual expense reductions and margin enhancements. Other cost-savings components include adding strategic co-packing partners that can contribute to decreased freight costs while increasing capacity to support anticipated record sales, increasing efficiencies with copackers and raw-material providers, eliminating redundancies and inefficiencies in third-party services and partnerships, identifying the company’s overall structure and productivity and initiating a more disciplined capital management approach. “We are committed to continue driving topline sales in fiscal year 2023 through new-store expansion and organic growth, despite economic headwinds,” said Alkaline88 president and CEO Frank Lazaran in the press release. “While focused on continued sales growth, the Company will emphasize a pathway to profitability in order to improve the bottom line and enhance shareholder value. During the past 30 days, we have undergone an extensive and thorough Company-wide review in which we’ve identified $4.5 to $5 million in annual profit enhancements to be implemented over the next 12 months. This review is ongoing to determine additional areas of savings and we will keep our shareholders updated regularly on our progress.”
To view the full press release, visit https://ibn.fm/4v4Xp
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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