ISLAND PARK, N.Y., April 23, 2020 (GLOBE NEWSWIRE) -- Global Diversified Marketing Group, Inc (OTC: GDMK) announced that it has secured distribution with Grocery Outlet to strengthen the Company’s brand, and bring its Premium Biscottelli product line into an untapped segment of the consumer market through an advantageous partnership with emerging industry leader, Grocery Outlet.
The company is a high-growth, extreme value retailer of quality, name-brand consumables and fresh products, and relies on an "opportunistic buying" strategy to secure items from suppliers, many of whom are the country's top consumer product and food manufacturers. Today’s marketplace is swiftly evolving. This relationship is expected to thrive even in the midst of challenging times, whereas there is a strong common denominator in how the future is perceived. While the nation operates at an average 30% capacity, Grocery Outlet holds to a recognized opportunistic philosophy that treats roadblocks as milestones, and converts adversity to opportunity, by staying ahead of the curve.
According to CNN.com, “Grocery Outlet (GO), an 'extreme value' supermarket chain with around 350 stores, mostly on the American West Coast, is capitalizing on shoppers stockpiling groceries during the outbreak and the havoc across supply chains. The grocer, which does not sell online, went public last year and sells its products 40% below conventional supermarket prices. It said Tuesday that sales at stores open for at least one year increased 5.1% during its most recent quarter.”
The report stated: “The coronavirus is crippling most American industries. But it's also creating opportunities for some unexpected businesses. Grocery Outlet's business model is a lot like TJX (TJX), the parent company of T.J.Maxx, Marshalls, HomeGoods. This may put it in a strong position to succeed during the crisis and beyond, analysts say."
According to the CNN review, “There's a huge amount of supply chain disruption going around right now, and this imbalance between supply and demand is a positive for Grocery Outlet's business."
"Disruption is a positive in the long run," Grocery Outlet President RJ Sheedy told analysts.
About Global Diversified Marketing Group
Headquartered in Island Park, NY - Global Diversified Marketing Group, Inc operates as a food and snack manufacturer, Importer & distributor through its subsidiary in the United States, Canada and Europe. The company operates through snacks segment. The snacks segment offers Italian Wafers, Italian filled croissants, French Madeleines, Wafer Pralines, shelf stable Macarons and other gourmet snacks. The company sells its products direct and through various distribution channels comprising specialty, grocery retailers, food-service distributors, DSD as well as vending, pantry and micro market segment.
About Grocery Outlet
Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products. As of December 28, 2019, it had 347 stores, which included 342 independent operated stores and 5 company operated stores in California, Washington, Oregon, Pennsylvania, Idaho, and Nevada. The company was founded in 1946 and is headquartered in Emeryville, California.
Safe Harbor Statement
Certain statements in this announcement are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, many of which, by their nature, are inherently uncertain and outside of the Company's control and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.
These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, information concerning the ability of the Company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Those assumptions and factors are based on information currently available to the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of the Company to develop the Company's brand and meet its growth objectives, the ability of the Company to complete acquisitions that are accretive to the Company's revenue, the ability of the Company to obtain and/or maintain licenses to operate in the jurisdictions in which it operates or in which it expects or plans to operate. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements and forward-looking information. The forward-looking information contained in this release is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking statements or forward-looking information that are incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The foregoing statements expressly qualify any forward-looking information contained herein. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Contact:
Global Diversified Marketing Group, Inc
Paul Adler, Chairman, President & CEO
800-550-5996
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35a9b02d-1a84-4210-8f0f-31f774b9386f