- Sharing Services reports Q1 net sales of $12.9 million; this is an increase of more than 35 percent compared to the last quarter of the previous year
- The impressive sales numbers can be attributed to the line of products the company launched in December 2017 and its aggressive Blue Ocean Strategy
- The company has a targeted expansion strategy and acquisitions of interests in diverse industries including health, energy and technology
Sharing Services, Inc. (OTCQB: SHRV) has been making headlines in the direct selling market with product launches and record sales numbers. The company’s fiscal year runs from May 1 to April 30. In the first quarter ended July 31, 2018, the company reported revenues of $12.9 million. Compared to its fourth quarter revenues of $8.3 million, this result marked a 36 percent jump in sales (http://nnw.fm/BCVp7).
On December 13, 2017, the company launched several wellness products under its Elevacity Global health-and-wellness division. The products, which include Elier Mud, an anti-aging product, and Timeless, a line of skincare products for both men and women, have made a huge contribution to the company’s earnings.
The contribution of its Elepreneurs marketing team has also been significant, especially relating to its execution of the Blue Ocean Strategy and the direct-to-market approach.
According to John ‘JT’ Thatch, the company’s CEO, customers are pleased with the launched products, because they are seeing great results. In terms of numbers, SHRV has reported over $20 million in sales since these products were introduced.
The $12.9 million Q1 result represents a milestone for the company, and management is impressed with the pace at which the company is exceeding its goals.
Being a direct marketing company, the major operating expense item is selling and marketing, which accounted for slightly under 50 percent of the reported Q1 net sales. Apart from the revenue growth, the asset base for the company has also scaled up from $5.9 million at the end of the last financial year to $8.4 million in the first quarter 2018. This is according to the 10-Q reports filed with the Securities and Exchange Commission (SEC).
Top decision makers in the direct selling industry looking to manage and grow their businesses can leverage the expertise of Direct Selling News. Operating from Plano, Texas, this platform serves the information needs of executives who seek to understand the dynamics of the industry.
Sharing Services, Inc. is a Plano, Texas-based holding company with a diversified portfolio in the direct selling industry. The company is progressively gaining traction in the industry mainly by owning, operating or controlling companies at different levels within the direct-selling sector. To date, the company has interests in health and wellness, technology, energy, training, insurance services, media and travel benefits. Sharing Services has a keen interest in home-based entrepreneurs through its direct-selling support offerings.
For more information, visit the company’s website at www.SHRVinc.com
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com