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BRIEF-Goodfood Market Says Gross Merchandise Sales Increased $22.4 Mln In Q2 2020 To Reach $68.9 Mln

Published 2020-04-08, 06:55 a/m

April 8 (Reuters) - Goodfood Market Corp FOOD.TO :

* GOODFOOD DELIVERS CONTINUED STRONG GROWTH AND MARGIN IMPROVEMENT WITH GROSS MARGIN SURPASSING THE 30% MARK, Q2 REVENUE OF $59 MILLION, LTM REVENUE¹ SURPASSING $210 MILLION AND RUN-RATE GMS¹ REACHING $300 MILLION

* GOODFOOD MARKET CORP - GROSS MERCHANDISE SALES INCREASED $22.4 MILLION IN Q2 2020 TO REACH $68.9 MILLION

* GOODFOOD MARKET CORP - HAS STARTED TO EXPERIENCE IMPACT OF OUTBREAK OF COVID-19 ON ITS OVERALL BUSINESS AND OPERATIONS

* GOODFOOD MARKET CORP - AS AN ESSENTIAL SERVICE IN CANADA, GOODFOOD CONTINUES TO OPERATE DURING CURRENT PANDEMIC

* GOODFOOD MARKET CORP - HAVE EXPERIENCED CHALLENGES TO OUR OPERATIONS AND SUPPLY CHAIN, PUTTING PRESSURE ON FOOD AND LABOUR COSTS

* GOODFOOD MARKET - STARTING MARCH 26, RAISED PAY OF ALL ITS HOURLY AND SALARIED OPERATIONS AND PRODUCTION EMPLOYEES BY A MINIMUM OF $2/HOUR

* GOODFOOD MARKET CORP - PAY RAISE WILL BE EFFECTIVE THROUGHOUT DURATION OF COVID-19 CRISIS

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