Q1 Revenues for the period ending July 31, 2023 exceed estimates by over 12% to a total of 126% increase quarter over quarter. GPOX continues the roll-out of new Direct to Store Delivery model fuels escalating revenues.
LAS VEGAS, NV / ACCESSWIRE / October 26, 2023 / GPO Plus, Inc. (OTCQB:GPOX), a leading manufacturing and distribution company of consumer products for convenience stores and specialty retailers which include gas stations, smoke shops and vape shops is pleased to announce a Shareholder Update on growth plans for improved unit economic and increased revenue. The company is also happy to announce the launch of its updated website, GPOPlus.com.
Highlights:
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GPOX acquired the assets of Betterment Retail Solutions, our first Regional Distribution hub in Lubbock, Texas, servicing 470 retail locations. In March of 2023 GPOX began servicing these stores and quickly implemented:
- A new Mini-Hub strategy - hub and spoke model
- A branded store in store concept called "the Feel Good Shop+"
- A new "White Glove Direct Store Delivery" service through their Distro+ division.
- The new "White Glove DSD", which included weekly visits to the stores and increased product offerings exceeded expectations, resulting in over a 365% increase in monthly sales from $580 to $2,120 per store in the first 100 stores receiving the new service and full product offering.
- GPOX reported a 320% increase in revenues for their fiscal 4th Quarter for the three months ending April 30, 2023, compared to 3rd Quarter. An increase from $102,000 to over $430,000.
- GPOPlus+ reports record 1st Quarter audited revenues of $970,735 for three months ending July 31, 2023. Over a 12% increase from expected revenues and a 126% increase from the previous Quarter.
- GPOX has entered the live testing, implementation and roll out phase for MSRP+, its proprietary software which powers order management, logistics optimization, lead generation, sales analytics, accounting, inventory management and ecommerce - headless commerce platform for the company's DISTRO+ division.
- GPOX expects to onboard over 258 stores throughout Texas, Iowa and Kansas with the company's full suite of product offerings by year end 2023 and expand into 123 locations throughout New Mexico, the roll-out of which is anticipated in early 2024.
GPOX currently services approximately 570 locations in 12 states. Our expansion model is driven by highly efficient Mini-Hubs, which are vital to providing enhanced service to retail partners. Each Mini-Hub caters to 50 to 100 stores, with a small storage facility, 1-2 drivers and a minivan for product delivery. The Mini-Hubs are serviced by a regional hub in Lubbock Texas which is projected to scale to over 2,000 retail locations. In addition, the Company has pilot programs with 2 new national chains which would potentially add over 300 new locations.
Brett H. Pojunis, CEO of GPOX, emphasizes "most retailers get about 80% - 85% of their products from just a few distributors, the remaining 15% - 20% of the products could be represented by dozens, and up to over 40 vendors! This is a major pain point for our corporate retailers (gas stations and convenience stores) and we have first hand knowledge that they want want to work with less vendors who can solve more problems for them in the most efficient manner. Our unique model focuses on the 15% to 20% of products not provided by retailer's primary distributors. Our white glove DSD service addresses specialty retailers challenges of identifying and qualifying new products, ensuring quality and product delivery. Our white glove service addresses 100% of these challenges and has been received with overwhelming success. We simplify and optimize operations by consolidating multiple products into one distribution service, becoming a one stop shop for these specialty retailers alleviating this major pain point. As a result our retail partners ask us, what additional products we can provide in this uncomplicated and comprehensive solution. Easy to understand when you compare our DISTRO+ drivers visiting a store once a week, stocking the shelves and preparing purchase orders for needed products, to a semi-truck dropping a shrink-wrapped pallet in the entrance of their store.
Our growth strategy for the next six months is extremely focused and straight forward:
- Expand White Glove Service to 500+ additional stores.
- Leverage technology and data to improve efficiencies, lowering time in store for our drivers as well as analyze sales to optimize product mix and margin.
- Introduce proprietary products, such as Yuenglings Ice Cream flavored gummies and High-Cloud gummies, when appropriate to significantly increase margins. Target margins for general products is 20%, where proprietary products yield 35% to 45% gross margin.
- Complete pilot program with new chains with the goal of 300 additional retail locations.
- Increase product offerings to increase average sales per convenience to over $3,000+ per month."
Brett H. Pojunis, CEO continues: "My personal goal is to service over 700 stores with average sales of $3,000 per store in 2024. While we have previously discussed that GPOX also offers our proprietary products online direct to consumer, given the scope of this opportunity we are committed to focusing resources on the current roll-out of the white glove service and adding additional chains of stores, both known national brands as well as regions groups, where an owner may have 10 to 50 locations to bring our Lubbock regional hub to full capacity.
Connect with us on social media to view live video updates, content, and general information about GPOX and its GPOs: https://gpoplus.com/social.
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About GPOXLabs.ai
GPOXLabs.ai is the division of GPOPlus+ that powers its technology, product development, and digital marketing to drive growth by improving operational efficiencies, developing innovative consumer products, and exploring new ways to connect with customers.
Visit GPOXLabs.com for more information.
About GPOPlus+ (GPOX)
GPO Plus (GPOX) is a product development, manufacturing, and distribution company which offers a diverse portfolio of high-quality innovative products sold directly to consumers and retailers. Our business is organized around four key areas: products (developing and manufacturing), distribution (getting our products to customers), marketing (promoting our products), and sales (selling our products to consumers and retailers). Our goal is to expand our product line and distribution reach to meet market demand and the needs of our customers.
For more information please visit www.GPOPlus.com. To activate your free GPOX Investor Account at www.GPOPlus.com/ir.
Information about Forward-Looking Statements
This press release contains "forward-looking statements" that include statements regarding expected financial performance and growth information relating to future events. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the control of the Company and its officers and managers, and which may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to; inability to gain or maintain licenses, reliance on unaudited statements, the Company's need for additional funding, governmental regulation of the cannabis industry, the impact of competitive products and pricing, the demand for the Company's products, and other risks that are detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. All statements other than statements of historical fact are statements that could be forward-looking statements. You can typically identify these forward-looking statements through use of words such as "may," "will," "can" "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "seek," "estimate," "continue," "plan," "point to," "project," "predict," "could," "intend," "target," "potential," and other similar words and expressions of the future. The Company expresses its expectations, beliefs and projections in good faith and believes that its expectations reflected in these forward-looking statements are based on reasonable assumptions. However, there is no assurance that these expectations, beliefs and projections will prove to have been correct. Such statements reflect the current views of the Company with respect to its operations and future events, and are subject to certain risks, uncertainties and assumptions relating to its proposed operations, including the risk factors set forth herein. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, the Company's actual results may vary significantly from those intended, anticipated, believed, estimated, expected or planned. In light of these risks, uncertainties and assumptions, any favorable forward-looking events discussed herein might not be realized and occur. The Company has no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. For a more detailed description of the risk factors and uncertainties affecting GPO Plus, Inc. GPOX, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Company Contacts:
GPOXLabs.ai
Bryan Garabrandt, Lead Technologist
Email: bryan@gpoplus.com
GPOX Shareholder Success Team+ Investor Relation Contacts:
Brett H. Pojunis, CEO
Email: ir@gpoplus.com
Shareholder's Line: 855.935.GPOX (4769)
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SOURCE: GPO Plus, Inc.
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