Pacific Ventures Group, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 19, 2019 at 11:09 pm IST
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Pacific Ventures Group, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced sales was USD 1.127 million compared to USD 690,135 a year ago. Operating loss was USD 70,566 compared to USD 69,300 a year ago. Net loss was USD 237,529 compared to USD 258,448 a year ago. Basic loss per share was USD 0.00086 compared to USD 0.00313 a year ago. For the half year, sales was USD 2.418 million compared to USD 690,135 a year ago. Operating loss was USD 194,607 compared to USD 483,471 a year ago. Net loss was USD 540,962 compared to USD 738,584 a year ago. Basic loss per share was USD 0.00196 compared to USD 0.00894 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.