Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Scott’s Liquid Gold-Inc. Reports Third Quarter Results By: Scott’s Liquid Gold-Inc. via Business Wire November 14, 2022 at 16:05 PM EST Third Quarter 2022 Highlights: Third quarter 2022 net sales of $4.3 million vs. $8.0 million of net sales in 2021 Net loss of $0.7 million in Q3 2022 vs. $2.5 million in 2021 Scott’s Liquid Gold-Inc. (OTC: SLGD) today announced results for the three months ended September 30, 2022. Third Quarter Financial Results In the third quarter of 2022, net sales decreased primarily due to the sale of the Dryel brand and the conclusion of our agreement to distribute Batiste products. Sales of our Alpha Skin Care products destined for the China market decreased, as we terminated our relationship with our exclusive distributor in China in the second quarter of 2022. Net sales from other product lines decreased primarily due to changes in our customers’ purchasing strategies related to inventory control measures as well as supply chain challenges with certain BIZ products. Our net loss decreased versus the prior year due to reductions in various operating expenses and improved margins on the products we sold to our customers. Income tax expense decreased in the third quarter of 2022 versus the same period in 2021 due to the realization of a valuation allowance on our deferred tax asset in 2021. Management Commentary “Our team is adapting to the changing environment with our customers’ order patterns and inventory management, and we remain focused on delivering for our retail customers and consumers,” said Tisha Pedrazzini, President of Scott’s. “We expect the operating environment to remain challenging. While our efforts to reduce overhead and operating expenses have been successful, we are committed to further cost reductions and efficiencies to optimize our business.” SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Statements of Operations (in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net sales $ 4,277 $ 7,970 $ 15,449 $ 24,583 Cost of sales 2,358 5,100 8,337 14,624 Gross profit 1,919 2,870 7,112 9,959 Operating expenses: Advertising 166 144 492 506 Selling 1,691 2,542 5,752 7,388 General and administrative 578 836 2,020 3,782 Intangible asset amortization 87 278 313 834 Impairment of goodwill and intangible assets - - 3,589 - Total operating expenses 2,522 3,800 12,166 12,510 Loss from operations (603 ) (930 ) (5,054 ) (2,551 ) Interest expense (139 ) (109 ) (419 ) (219 ) Loss before income taxes and discontinued operations (742 ) (1,039 ) (5,473 ) (2,770 ) Income tax expense (2 ) (1,224 ) (55 ) (798 ) Loss from continuing operations (744 ) (2,263 ) (5,528 ) (3,568 ) Loss from discontinued operations, net of taxes - (205 ) - (246 ) Net loss $ (744 ) $ (2,468 ) $ (5,528 ) $ (3,814 ) Basic and diluted net loss per common shares: Loss from continuing operations $ (0.06 ) $ (0.18 ) $ (0.43 ) $ (0.28 ) Loss from discontinued operations $ - $ (0.02 ) $ - $ (0.02 ) Net loss $ (0.06 ) $ (0.20 ) $ (0.43 ) $ (0.30 ) Weighted average shares outstanding: Basic and diluted 12,749 12,642 12,747 12,628 SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Balance Sheets (in thousands, except par value amounts) September 30, December 31, 2022 2021 Assets Current assets: Cash $ 14 $ 770 Restricted cash 125 500 Accounts receivable, net 1,791 3,516 Inventories 6,289 5,677 Income taxes receivable 247 320 Prepaid expenses 214 436 Total current assets 8,680 11,219 Property and equipment, net 3 7 Goodwill 838 1,710 Intangible assets, net 2,272 5,160 Operating lease right-of-use assets 2,553 2,735 Other assets 38 38 Total assets $ 14,384 $ 20,869 Liabilities and Shareholders’ Equity Current liabilities: Accounts payable $ 1,750 $ 2,647 Accrued expenses 397 747 Current portion of long-term debt 2,684 1,000 Operating lease liabilities, current portion 264 251 Total current liabilities 5,095 4,645 Long-term debt, net of current portion and debt issuance costs 555 1,876 Operating lease liabilities, net of current 2,581 2,780 Other liabilities 27 27 Total liabilities 8,258 9,328 Shareholders’ equity: Preferred Stock, no par value, authorized 20,000 shares; no shares issued and outstanding - - Common Stock; $0.10 par value, authorized 50,000 shares; issued and outstanding 12,749 shares (2022) and 12,727 shares (2021) 1,275 1,273 Capital in excess of par 7,900 7,789 (Accumulated deficit) retained earnings (3,049 ) 2,479 Total shareholders’ equity 6,126 11,541 Total liabilities and shareholders’ equity $ 14,384 $ 20,869 SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Statements of Cash Flows (in thousands) Nine Months Ended September 30, 2022 2021 Cash flows from operating activities: Net loss $ (5,528 ) $ (3,568 ) Adjustments to reconcile net loss to net cash used by operating activities: Depreciation and amortization 480 1,357 Stock-based compensation 113 99 Deferred income taxes - 784 Impairment of goodwill and intangible assets 3,589 - Change in operating assets and liabilities: Accounts receivable 1,725 228 Inventories (612 ) (2,651 ) Prepaid expenses and other assets 222 175 Income taxes receivable 73 192 Accounts payable, accrued expenses, and other liabilities (1,251 ) 1,990 Total adjustments to net loss 4,339 2,174 Net cash used in operating activities (1,189 ) (1,394 ) Cash flows from investing activities: Purchase of software (142 ) (262 ) Net cash used in investing activities (142 ) (262 ) Cash flows from financing activities: Repayments on term loans (2,000 ) (750 ) Proceeds from revolving credit facility 20,763 29,824 Repayments of revolving credit facility (18,563 ) (27,222 ) Proceeds from exercise of stock options - 57 Net cash provided by financing activities 200 1,909 Net (decrease) increase in cash and restricted cash (1,131 ) 253 Cash and restricted cash, beginning of period 1,270 5 Cash and restricted cash, end of period $ 139 $ 258 Supplemental disclosures: Cash paid during the period for interest $ 256 $ 372 Note Regarding Forward-Looking Statements This news release may contain "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "assumptions," "target," "guidance," “strategy,” "outlook," "plans," "projection," "may," "will," "would," "expect," "intend," "estimate," "anticipate," "believe”, "potential," or "continue" (or the negative or other derivatives of each of these terms) or similar terminology. Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's subsequent Quarterly Reports on Form 10-Q and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent filings with the Securities and Exchange Commission. About Scott’s Liquid Gold-Inc. Scott’s Liquid Gold-Inc. exists to positively impact consumers’ lives in the markets we serve while creating shareholder value. We develop, market, and sell high-quality, high-value household and health and beauty care products nationally and internationally to mass merchandisers, drugstores, supermarkets, hardware stores, e-commerce retailers, other retail outlets, and to wholesale distributors. View source version on businesswire.com: https://www.businesswire.com/news/home/20221114005202/en/Contacts Investor Relations Contact: David Arndt Chief Financial Officer 303.576.6027 Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Scott’s Liquid Gold-Inc. Reports Third Quarter Results By: Scott’s Liquid Gold-Inc. via Business Wire November 14, 2022 at 16:05 PM EST Third Quarter 2022 Highlights: Third quarter 2022 net sales of $4.3 million vs. $8.0 million of net sales in 2021 Net loss of $0.7 million in Q3 2022 vs. $2.5 million in 2021 Scott’s Liquid Gold-Inc. (OTC: SLGD) today announced results for the three months ended September 30, 2022. Third Quarter Financial Results In the third quarter of 2022, net sales decreased primarily due to the sale of the Dryel brand and the conclusion of our agreement to distribute Batiste products. Sales of our Alpha Skin Care products destined for the China market decreased, as we terminated our relationship with our exclusive distributor in China in the second quarter of 2022. Net sales from other product lines decreased primarily due to changes in our customers’ purchasing strategies related to inventory control measures as well as supply chain challenges with certain BIZ products. Our net loss decreased versus the prior year due to reductions in various operating expenses and improved margins on the products we sold to our customers. Income tax expense decreased in the third quarter of 2022 versus the same period in 2021 due to the realization of a valuation allowance on our deferred tax asset in 2021. Management Commentary “Our team is adapting to the changing environment with our customers’ order patterns and inventory management, and we remain focused on delivering for our retail customers and consumers,” said Tisha Pedrazzini, President of Scott’s. “We expect the operating environment to remain challenging. While our efforts to reduce overhead and operating expenses have been successful, we are committed to further cost reductions and efficiencies to optimize our business.” SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Statements of Operations (in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net sales $ 4,277 $ 7,970 $ 15,449 $ 24,583 Cost of sales 2,358 5,100 8,337 14,624 Gross profit 1,919 2,870 7,112 9,959 Operating expenses: Advertising 166 144 492 506 Selling 1,691 2,542 5,752 7,388 General and administrative 578 836 2,020 3,782 Intangible asset amortization 87 278 313 834 Impairment of goodwill and intangible assets - - 3,589 - Total operating expenses 2,522 3,800 12,166 12,510 Loss from operations (603 ) (930 ) (5,054 ) (2,551 ) Interest expense (139 ) (109 ) (419 ) (219 ) Loss before income taxes and discontinued operations (742 ) (1,039 ) (5,473 ) (2,770 ) Income tax expense (2 ) (1,224 ) (55 ) (798 ) Loss from continuing operations (744 ) (2,263 ) (5,528 ) (3,568 ) Loss from discontinued operations, net of taxes - (205 ) - (246 ) Net loss $ (744 ) $ (2,468 ) $ (5,528 ) $ (3,814 ) Basic and diluted net loss per common shares: Loss from continuing operations $ (0.06 ) $ (0.18 ) $ (0.43 ) $ (0.28 ) Loss from discontinued operations $ - $ (0.02 ) $ - $ (0.02 ) Net loss $ (0.06 ) $ (0.20 ) $ (0.43 ) $ (0.30 ) Weighted average shares outstanding: Basic and diluted 12,749 12,642 12,747 12,628 SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Balance Sheets (in thousands, except par value amounts) September 30, December 31, 2022 2021 Assets Current assets: Cash $ 14 $ 770 Restricted cash 125 500 Accounts receivable, net 1,791 3,516 Inventories 6,289 5,677 Income taxes receivable 247 320 Prepaid expenses 214 436 Total current assets 8,680 11,219 Property and equipment, net 3 7 Goodwill 838 1,710 Intangible assets, net 2,272 5,160 Operating lease right-of-use assets 2,553 2,735 Other assets 38 38 Total assets $ 14,384 $ 20,869 Liabilities and Shareholders’ Equity Current liabilities: Accounts payable $ 1,750 $ 2,647 Accrued expenses 397 747 Current portion of long-term debt 2,684 1,000 Operating lease liabilities, current portion 264 251 Total current liabilities 5,095 4,645 Long-term debt, net of current portion and debt issuance costs 555 1,876 Operating lease liabilities, net of current 2,581 2,780 Other liabilities 27 27 Total liabilities 8,258 9,328 Shareholders’ equity: Preferred Stock, no par value, authorized 20,000 shares; no shares issued and outstanding - - Common Stock; $0.10 par value, authorized 50,000 shares; issued and outstanding 12,749 shares (2022) and 12,727 shares (2021) 1,275 1,273 Capital in excess of par 7,900 7,789 (Accumulated deficit) retained earnings (3,049 ) 2,479 Total shareholders’ equity 6,126 11,541 Total liabilities and shareholders’ equity $ 14,384 $ 20,869 SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Statements of Cash Flows (in thousands) Nine Months Ended September 30, 2022 2021 Cash flows from operating activities: Net loss $ (5,528 ) $ (3,568 ) Adjustments to reconcile net loss to net cash used by operating activities: Depreciation and amortization 480 1,357 Stock-based compensation 113 99 Deferred income taxes - 784 Impairment of goodwill and intangible assets 3,589 - Change in operating assets and liabilities: Accounts receivable 1,725 228 Inventories (612 ) (2,651 ) Prepaid expenses and other assets 222 175 Income taxes receivable 73 192 Accounts payable, accrued expenses, and other liabilities (1,251 ) 1,990 Total adjustments to net loss 4,339 2,174 Net cash used in operating activities (1,189 ) (1,394 ) Cash flows from investing activities: Purchase of software (142 ) (262 ) Net cash used in investing activities (142 ) (262 ) Cash flows from financing activities: Repayments on term loans (2,000 ) (750 ) Proceeds from revolving credit facility 20,763 29,824 Repayments of revolving credit facility (18,563 ) (27,222 ) Proceeds from exercise of stock options - 57 Net cash provided by financing activities 200 1,909 Net (decrease) increase in cash and restricted cash (1,131 ) 253 Cash and restricted cash, beginning of period 1,270 5 Cash and restricted cash, end of period $ 139 $ 258 Supplemental disclosures: Cash paid during the period for interest $ 256 $ 372 Note Regarding Forward-Looking Statements This news release may contain "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "assumptions," "target," "guidance," “strategy,” "outlook," "plans," "projection," "may," "will," "would," "expect," "intend," "estimate," "anticipate," "believe”, "potential," or "continue" (or the negative or other derivatives of each of these terms) or similar terminology. Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's subsequent Quarterly Reports on Form 10-Q and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent filings with the Securities and Exchange Commission. About Scott’s Liquid Gold-Inc. Scott’s Liquid Gold-Inc. exists to positively impact consumers’ lives in the markets we serve while creating shareholder value. We develop, market, and sell high-quality, high-value household and health and beauty care products nationally and internationally to mass merchandisers, drugstores, supermarkets, hardware stores, e-commerce retailers, other retail outlets, and to wholesale distributors. View source version on businesswire.com: https://www.businesswire.com/news/home/20221114005202/en/Contacts Investor Relations Contact: David Arndt Chief Financial Officer 303.576.6027
Third Quarter 2022 Highlights: Third quarter 2022 net sales of $4.3 million vs. $8.0 million of net sales in 2021 Net loss of $0.7 million in Q3 2022 vs. $2.5 million in 2021
Scott’s Liquid Gold-Inc. (OTC: SLGD) today announced results for the three months ended September 30, 2022. Third Quarter Financial Results In the third quarter of 2022, net sales decreased primarily due to the sale of the Dryel brand and the conclusion of our agreement to distribute Batiste products. Sales of our Alpha Skin Care products destined for the China market decreased, as we terminated our relationship with our exclusive distributor in China in the second quarter of 2022. Net sales from other product lines decreased primarily due to changes in our customers’ purchasing strategies related to inventory control measures as well as supply chain challenges with certain BIZ products. Our net loss decreased versus the prior year due to reductions in various operating expenses and improved margins on the products we sold to our customers. Income tax expense decreased in the third quarter of 2022 versus the same period in 2021 due to the realization of a valuation allowance on our deferred tax asset in 2021. Management Commentary “Our team is adapting to the changing environment with our customers’ order patterns and inventory management, and we remain focused on delivering for our retail customers and consumers,” said Tisha Pedrazzini, President of Scott’s. “We expect the operating environment to remain challenging. While our efforts to reduce overhead and operating expenses have been successful, we are committed to further cost reductions and efficiencies to optimize our business.” SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Statements of Operations (in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net sales $ 4,277 $ 7,970 $ 15,449 $ 24,583 Cost of sales 2,358 5,100 8,337 14,624 Gross profit 1,919 2,870 7,112 9,959 Operating expenses: Advertising 166 144 492 506 Selling 1,691 2,542 5,752 7,388 General and administrative 578 836 2,020 3,782 Intangible asset amortization 87 278 313 834 Impairment of goodwill and intangible assets - - 3,589 - Total operating expenses 2,522 3,800 12,166 12,510 Loss from operations (603 ) (930 ) (5,054 ) (2,551 ) Interest expense (139 ) (109 ) (419 ) (219 ) Loss before income taxes and discontinued operations (742 ) (1,039 ) (5,473 ) (2,770 ) Income tax expense (2 ) (1,224 ) (55 ) (798 ) Loss from continuing operations (744 ) (2,263 ) (5,528 ) (3,568 ) Loss from discontinued operations, net of taxes - (205 ) - (246 ) Net loss $ (744 ) $ (2,468 ) $ (5,528 ) $ (3,814 ) Basic and diluted net loss per common shares: Loss from continuing operations $ (0.06 ) $ (0.18 ) $ (0.43 ) $ (0.28 ) Loss from discontinued operations $ - $ (0.02 ) $ - $ (0.02 ) Net loss $ (0.06 ) $ (0.20 ) $ (0.43 ) $ (0.30 ) Weighted average shares outstanding: Basic and diluted 12,749 12,642 12,747 12,628 SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Balance Sheets (in thousands, except par value amounts) September 30, December 31, 2022 2021 Assets Current assets: Cash $ 14 $ 770 Restricted cash 125 500 Accounts receivable, net 1,791 3,516 Inventories 6,289 5,677 Income taxes receivable 247 320 Prepaid expenses 214 436 Total current assets 8,680 11,219 Property and equipment, net 3 7 Goodwill 838 1,710 Intangible assets, net 2,272 5,160 Operating lease right-of-use assets 2,553 2,735 Other assets 38 38 Total assets $ 14,384 $ 20,869 Liabilities and Shareholders’ Equity Current liabilities: Accounts payable $ 1,750 $ 2,647 Accrued expenses 397 747 Current portion of long-term debt 2,684 1,000 Operating lease liabilities, current portion 264 251 Total current liabilities 5,095 4,645 Long-term debt, net of current portion and debt issuance costs 555 1,876 Operating lease liabilities, net of current 2,581 2,780 Other liabilities 27 27 Total liabilities 8,258 9,328 Shareholders’ equity: Preferred Stock, no par value, authorized 20,000 shares; no shares issued and outstanding - - Common Stock; $0.10 par value, authorized 50,000 shares; issued and outstanding 12,749 shares (2022) and 12,727 shares (2021) 1,275 1,273 Capital in excess of par 7,900 7,789 (Accumulated deficit) retained earnings (3,049 ) 2,479 Total shareholders’ equity 6,126 11,541 Total liabilities and shareholders’ equity $ 14,384 $ 20,869 SCOTT’S LIQUID GOLD-INC. & SUBSIDIARIES Consolidated Statements of Cash Flows (in thousands) Nine Months Ended September 30, 2022 2021 Cash flows from operating activities: Net loss $ (5,528 ) $ (3,568 ) Adjustments to reconcile net loss to net cash used by operating activities: Depreciation and amortization 480 1,357 Stock-based compensation 113 99 Deferred income taxes - 784 Impairment of goodwill and intangible assets 3,589 - Change in operating assets and liabilities: Accounts receivable 1,725 228 Inventories (612 ) (2,651 ) Prepaid expenses and other assets 222 175 Income taxes receivable 73 192 Accounts payable, accrued expenses, and other liabilities (1,251 ) 1,990 Total adjustments to net loss 4,339 2,174 Net cash used in operating activities (1,189 ) (1,394 ) Cash flows from investing activities: Purchase of software (142 ) (262 ) Net cash used in investing activities (142 ) (262 ) Cash flows from financing activities: Repayments on term loans (2,000 ) (750 ) Proceeds from revolving credit facility 20,763 29,824 Repayments of revolving credit facility (18,563 ) (27,222 ) Proceeds from exercise of stock options - 57 Net cash provided by financing activities 200 1,909 Net (decrease) increase in cash and restricted cash (1,131 ) 253 Cash and restricted cash, beginning of period 1,270 5 Cash and restricted cash, end of period $ 139 $ 258 Supplemental disclosures: Cash paid during the period for interest $ 256 $ 372 Note Regarding Forward-Looking Statements This news release may contain "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "assumptions," "target," "guidance," “strategy,” "outlook," "plans," "projection," "may," "will," "would," "expect," "intend," "estimate," "anticipate," "believe”, "potential," or "continue" (or the negative or other derivatives of each of these terms) or similar terminology. Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's subsequent Quarterly Reports on Form 10-Q and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent filings with the Securities and Exchange Commission. About Scott’s Liquid Gold-Inc. Scott’s Liquid Gold-Inc. exists to positively impact consumers’ lives in the markets we serve while creating shareholder value. We develop, market, and sell high-quality, high-value household and health and beauty care products nationally and internationally to mass merchandisers, drugstores, supermarkets, hardware stores, e-commerce retailers, other retail outlets, and to wholesale distributors. View source version on businesswire.com: https://www.businesswire.com/news/home/20221114005202/en/