FAIRFIELD, NJ / ACCESSWIRE / November 8, 2021 / Bergio International, Inc. ("Bergio," or the "Company") (OTC PINK:BRGO), an American holding corporation and global leader in fine and fashion jewelry has reported its financial results for the third quarter of 2021. In the third quarter, worldwide gross sales reached $2.175 million, an approximate 1,483% increase compared to $137,340 the prior year. Gross profit increased just over 605%, jumping from $108,245 last year to $764,169this year.
In the year-to-date, worldwide gross sales reached $5,461,676 million, an approximately 1779% increase compared to last year's sales of $290,677. Gross profit remained stable despite integrating the consolidated financials of Gearbubble that sells at lower wholesale margins.
Berge Abajian, CEO of Bergio International Inc., shared, "We're excited with our Q3 results which indicate the fruitful outcome from executing our core strategic roadmap which involves all areas of the Customer Experience (CX). Although the numbers reflect only partial sales for Gearbubble and our eCommerce platform sales on Amazon, Etsy, and Walmart, they still reveal a potent trajectory of our forecasted goals for this momentous year.
Our last quarterly earnings report of this year will reflect sales of our full Bergio portfolio as well reflecting our strategic inroads to expand overseas manufacturing for vertical integration, and our broader eCommerce digital footprint, including our recent foray into eBay, to dominate the fine, demi-fine and costume jewelry category. Some eCommerce firms made 30% of their revenue during the last quarter of the year. We forecast a higher spike in sales during our most critical quarter of the year, our Golden quarter. In addition, our operational costs will decrease now that all our key acquisitions have been completed.
Berge Abajian added, "We are ripe for a stellar close to 2021 with the seamless integration of the valuable Aphrodite's and GearBubble team members into our brand portfolio. The Cyber 5, the upcoming five day retail shopping marathon - Thanksgiving, Black Friday through Cyber Monday, and Christmas are key events in e-commerce. As we head to this promising trajectory, we look forward to leveraging our full suite of brands to scale sales in Q4 and firmly believe the stock price will reflect the progress of our bottom line."
Third Quarter 2021 Highlights
- Gross sales reached $2.175 million, an approximately 1,483% increase compared to $137,340 the prior year.
- Gross profit reached $764,169, an approximately 605% increase compared to $108,245 the prior year.
- Our two strategic acquisitions, Aphrodite's, our fast-growing DTC (direct to consumer) jewelry label and Gearbubble, our B2B brand posted strong results with a powerful impact on the bottom line.
- Total stockholder equity for September 30, 2021 improved $2.671 million compared to a negative $171 thousand for December 31, 2021. The stockholder equity is higher than reported if the limited liabilities, the non-cash expense is taken into consideration.
About Bergio International, Inc.
The Bergio brand, the primary portfolio asset, is associated with high-quality, handcrafted, and individually designed pieces with a European sensibility, Italian craftsmanship, and a bold flair for the unexpected. Established in 1995, Bergio's signature innovative design, coupled with extraordinary diamonds and precious stones, earned the company recognition as a highly sought-after purveyor of rare and exquisite treasures from around the globe. With family jewelry roots reaching back to the 1930s, founder, CEO, and designer Berge Abajian is a third-generation jeweler, blending superior knowledge in design and manufacturing to create unparalleled collections in craftsmanship and style. The Bergio brand features fine jewelry, silver fashion jewelry, bridal, couture, and leather accessories, ranging in price from $50 to $250,000. For further information, please visit www.bergio.com.
This press release includes forward-looking statements regarding our business strategy and plans as well as expectations of future growth, all of which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical in nature and include those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including changes in the general economy; changes in demand for the Company's products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company's previous filings with the U.S. Securities and Exchange Commission, including those detailed under the caption "Risk Factors" in our Annual Report for the year ended December 31, 2019 filed with the SEC. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the "Act") protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
SOURCE: Bergio International, Inc.