Pacific Ventures Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2020
June 16, 2020 at 12:25 pm
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Pacific Ventures Group, Inc. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was USD 6.700 million compared to USD 1.289 million a year ago. Operating loss was USD 402,212 compared to USD 123,372 a year ago. Net loss was USD 787,557 compared to USD 302,764 a year ago. Basic loss per share from continuing operations was USD 0.001 compared to basic earnings per share from continuing operations of USD 0.001 a year ago. Diluted loss per share from continuing operations was USD 0.00138 compared to diluted earnings per share from continuing operations of USD 0.0011 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.
PACIFIC VENTURES GROUP, INC. 
