Strong Case Sales Could Reward Investors With A 72% Gain
Castle Brands Inc. (NYSE: ROX), a developer and international marketer of premium and super-premium drinks brands, reported preliminary case sales results for its four lead brands, which represent over 90% of Castle Brand’s total case sales, for the fiscal year ended March 31, 2019.
PR Newswire summarized the case sales highlights:
“Case sales of Jefferson’s Bourbon grew to almost 90,000 cases (9L), an increase of 19% over the prior fiscal year. This makes Jefferson’s one of the top-five selling ultra-premium bourbons and the only leading ultra-premium bourbon not owned by a major spirits company.
Within the Jefferson’s portfolio, Jefferson’s Ocean Aged at Sea Bourbon experienced even more dramatic growth, increasing over 60% to 20,000 cases. This performance by one of the higher-end expressions has helped Jefferson’s become the only leading ultra-premium bourbon brand that commands an average retail shelf price greater than $50 per bottle.
5 Tech Stocks to Buy Immediately
Eric Fry, one of America’s top Investment Strategists, provides his latest report
5 Tech Stocks Set for 1,000% Gains after the Coronavirus Sell off. You can’t afford
to miss out on the once in a decade chance to buy after the recent 25% dip in the markets.
Goslings Stormy Ginger Beer, the leading premium Ginger Beer in America, passed 2,000,000 cases in volume. The brand has continued its record of delivering rapid growth over the 10 years it has been in existence. Gains in sales and points of distribution have been achieved across all distribution channels in the US, including grocery stores, club stores, liquor stores, national account chains, bars, and restaurants.
Goslings Rum resumed case sales growth in the fiscal year ended March 31, 2019. This puts Gosling’s rum in the top-ten premium imported rum brands in America; and, as with Jefferson’s, it is the only brand in that group not owned by a major spirits company.
Knappogue Castle Single Malt Irish Whiskey saw its best year ever, posting strong double-digit growth. New streamlined packaging and the release of unique limited expressions at higher price points contributed to this performance.”
Richard J. Lampen, President and Chief Executive Officer of Castle Brands, commented: “We are proud of Castle Brand’s case sales performance in the fiscal year ended March 31, 2019.
We believe that it is unique for a small independent spirits and premium beverage company to have several brands that are either leading or outpacing the growth of their respective categories.”
He continued: “We expect that growth of these brands, particularly Jefferson’s, will continue to drive our long-term trends of increasing sales and improving financial performance.”
John Glover, Executive Vice President and Chief Operating Officer of Castle Brands, added: “Crossing the 2,000,000 case sales level for Gosling’s Stormy Ginger Beer is an important milestone. To drive further growth for Gosling’s Stormy Ginger Beer in important new channels, we recently hired a Vice President of Non-Alcohol Sales.”
Traders seem impressed with the news and the stock is trading up more than 4%.
ROX should be considered a buy if recent momentum continues.
Look for an entry at $0.69 with a price target of at least $1.19 based on the pattern in the chart.