Pacific Ventures Group, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 20, 2020 at 08:58 pm
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Pacific Ventures Group, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 7.540 million compared to USD 1.098 million a year ago. Operating loss was USD 1.585 million compared to USD 235,319 a year ago. Net loss was USD 2.034 million compared to USD 405,939 a year ago. Basic loss per share from continuing operations was USD 0.29614 compared to USD 0.00085 a year ago. Diluted loss per share from continuing operations was USD 0.296 compared to USD 0.001 a year ago. For the nine months, sales was USD 22.929 million compared to USD 3.600 million a year ago. Operating loss was USD 2.648 million compared to USD 571,219 a year ago. Net loss was USD 3.896 million compared to USD 1.088 million a year ago. Basic loss per share from continuing operations was USD 0.56707 compared to USD 0.00228 a year ago. Diluted loss per share from continuing operations was USD 0.567 compared to USD 0.002 a year ago.
Pacific Ventures Group, Inc. is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of subsidiaries, the Company delivers specialty groceries, proteins and produce, and products to consumers through wholesale, retail, and direct-to-consumer channels. Its subsidiaries include San Diego Farmers Outlet, Seaport Meat Company, and Snobar Holdings, Inc. (Snobar). San Diego Farmers Outlet is a supplier of fresh fruits and vegetables and specialty groceries for retail customers and wholesale restaurants. Seaport Meat Company manufactures custom processed beef, pork, chicken, lamb, veal and seafood. Its meats are offered in restaurants and butcher shops. SnoBar offers SnoBar Frozen Cocktails, an alcohol infused ice-pops, ice cream and sorbet. SnoBar offers three types of ice-pops namely Margarita, Mojito and Cosmopolitan. SnoBar provides ice cream in a range of flavors, such as grasshopper, pink squirrel, and brandy alexander.
PACIFIC VENTURES GROUP, INC. 
