CHERRY HILL, N.J. - The Real Good Food Company, Inc. (NASDAQ: RGF), known for its health and wellness frozen and refrigerated foods, announced today the nationwide launch of its new Seasoned Chicken Breast Chunks in approximately 4,000 Walmart (NYSE:WMT) stores across the United States. This product expansion includes Garlic Parmesan and Lightly Buttered seasoned varieties, aimed at providing consumers with nutritious and convenient food options.
According to the company, these new frozen poultry products offer higher protein and lower carbohydrate content compared to leading chicken nugget brands currently available in the market. They are also free from gluten and grains, differentiating them from other breaded poultry products that often contain highly processed grains and gluten.
Real Good Foods emphasizes that its Seasoned Chicken Breast Chunks are designed for maximum flavor with a juicy interior and proprietary seasoning blends. The company's Executive Chairman, Bryan Freeman, expressed excitement over the national rollout and the company's commitment to increasing the accessibility of nutritious foods.
The launch is part of Real Good Foods' broader strategy to grow its Frozen Proteins portfolio. The products are now available in the frozen aisle of Walmart stores, where customers can also find the company's existing Lightly Breaded Chicken Breast Nuggets and Strips.
Real Good Foods has positioned itself as a leader in the health and wellness food sector, offering a range of products that cater to those looking for low-sugar, low-carbohydrate, and high-protein options. The company's products are distributed in over 16,000 stores nationwide, with additional direct-to-consumer options available.
This article is based on a press release statement from The Real Good Food Company, Inc.
In other recent news, The Real Good Food Company, Inc. is grappling with a compliance issue with the Nasdaq Stock Market LLC. The company was notified by Nasdaq that it had failed to meet the requirements of Listing Rule 5250(c)(1) due to not filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, on time. Additionally, Real Good Foods is also facing possible delisting from Nasdaq due to noncompliance with Nasdaq's listing requirements, as the closing bid price of its common stock had fallen below $1.00 per share for 30 consecutive business days.
The company has been given deadlines until June 18, 2024, and October 16, 2024, to submit plans to regain compliance for these respective issues. These notifications do not immediately affect the listing of the company's securities on Nasdaq, but there is no guarantee that Real Good Foods will be able to regain compliance within the given timeframe.
In the midst of these developments, Real Good Foods continues to provide nutritious food options, with a range of products that are low in sugar and carbohydrates, and high in protein. The company's forward-looking statements regarding its projected financial results and growth objectives have been released, however, these are subject to significant risks and uncertainties.
InvestingPro Insights
As The Real Good Food Company, Inc. (NASDAQ: RGF) launches its new Seasoned Chicken Breast Chunks in Walmart stores nationwide, investors may be eyeing the company's financial health and market performance. With a market capitalization of $19.44 million, Real Good Foods is navigating the competitive health and wellness food sector with a focus on high-protein and low-carbohydrate offerings.
One notable InvestingPro Tip for RGF is the company's significant debt burden, which could pose challenges in terms of making interest payments. This is particularly relevant as the company expands its product offerings and may require additional capital to support its growth initiatives. Additionally, Real Good Foods is quickly burning through cash, which could impact its ability to sustain operations without securing further financing.
From a financial metrics standpoint, RGF's P/E Ratio stands at -0.73, indicating that the company is not currently profitable. The negative earnings are further reflected in the adjusted P/E Ratio for the last twelve months as of Q3 2023, which sits at -1.27. Despite these challenges, the company has experienced a robust revenue growth of 18.88% over the same period, suggesting that its sales efforts are resonating with consumers.
Investors looking for a deeper analysis can find additional InvestingPro Tips for RGF, which could provide further insights into the company's valuation, cash flow, and profitability prospects. There are 15 additional tips listed on InvestingPro, offering a comprehensive view of Real Good Foods' financial health and market position.
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