- Company predicts BudCars will reach $650,000 monthly sales milestone; Q3 2020 numbers to top $11 million
- CEO expects extremely robust growth in July, August; new records across many metrics
- BudCars has seen steady improvement in almost every major metric
Sugarmade Inc. (OTCQB: SGMD), a product and branding marketing company investing in operations and technologies with disruptive potential, has announced that it expects BudCars Cannabis Delivery Service to hit a $650,000 sales milestone in July (http://cnw.fm/g8Jg8). The company also predicts its Q3 2020 sales numbers will top $11 million.
“We believe we have enough visibility and enough data in hand to forecast that we will continue to see extremely robust growth in July and August,” stated Sugarmade CEO Jimmy Chan. “Many of the trends we saw come together in June to drive our performance remain in place and suggest new records across many metrics are likely this month as well.”
The strong numbers are based on SGMD’s impressive growth and underlying data trends in May and June, along with even stronger numbers for the first part of July. Using the current figures as a baseline, the Sugarmade team is anticipating continued strong month-over-month sales growth of 30% in July and August, which would bring the company to $650K in July and on pace to close out September with annualized BudCars revenues reaching $11 million.
BudCars is a retail business that offers same-day delivery of top-quality cannabis. Customers choose from a variety of products, including edibles, flower, pre-rolls, vapes, tinctures and concentrate across dozens of premium brands. Once consumers complete their purchases online, they receive their order the same day via BudCars Cannabis Delivery Service.
BudCars has reported constant improvement in almost every major metric — from increasing new customers and increasing orders per customer to strong repeat business — since Sugarmade invested in the company earlier this year. This steady growth provides a high degree of confidence in the company’s forecast of continued 30% sequential monthly topline growth and the likelihood that SGMD will close out Q3 2020 with an extremely strong performance heading into year-end.
In addition, Sugarmade continues to focus on further strengthening future top and bottom-line growth through strategic expansion and verticalization plans. The company has already announced the opening of its second BudCars hub in Los Angeles, as well as the establishment of in-house cultivation and product manufacturing operations at its new 5,000 square-foot, indoor, premium-cannabis cultivation facility located near its Sacramento BudCars hub.
Sugarmade Inc. is a product and branding marketing company investing in operations and technologies with disruptive potential. In addition to its financial interest in the BudCars brand, SGMD’s brand portfolio includes CarryOutsupplies.com and SugarRush(TM).
For more information, visit the company’s website at www.Sugarmade.com.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SUGAR
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