LOS ANGELES, CA / ACCESSWIRE / April 22, 2020 / Pacific Ventures Group, Inc. (OTCPINK:PACVD) (the "Company"), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, is pleased to announce that its San Diego Farmers Outlet ("SDFO") has increased their retail sales by 40% over the past two months.
The rise in sales is due to retail business experiencing an increase in traffic. In addition, the Company has successfully shifted its drive to more foot traffic into the store during this unprecedented time of COVID-19. These customers are coming from local residents and nearby customers looking for shorter lines and stocked inventory in local stores versus the larger retailers.
Pacific Ventures Group Chief Executive Officer, Shannon Masjedi, stated, "despite the current challenges we all face, I am delighted to be able to report this period of substantial growth. We believe that 2020 will be in line with expectations with retail traffic adding sustained increase in sales. We expect that integration of product lines across our businesses will provide further growth in sales and increased value to our Shareholders."
During these challenging times, this increase in retail sales should help offset the decrease in wholesale sales due to the COVID-19.
About Pacific Ventures Group, Inc.
Pacific Ventures Group, Inc. (OTC: PACVD) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)
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Forward-Looking Statement: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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SOURCE: Pacific Ventures Group INC