Freshii to sell food in grocery stores through Walmart Canada partnership

BUSINESS

Freshii to sell food in grocery stores through Walmart Canada partnership

The Canadian Press Published Thursday, February 21, 2019 8:30PM EST

Matthew Corrin, founder & CEO of Freshii, poses for a photograph at one of the company's franchises in Vancouver, B.C., on Wednesday January 24, 2018. (THE CANADIAN PRESS/Darryl Dyck)

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TORONTO -- Freshii Inc. says it will soon sell its prepared food offerings in some Walmart Canada locations in Ontario its first partnership with a major grocer.

The Toronto-based company that markets its meals as healthier meal options says its products will be in 100 Walmart Canada stores by the end of April as well as online.

The news comes as Freshii, which reports in US dollars, said it had a net loss of US$483,000 for the quarter ending Dec. 30, compared with a net loss of $620,000 for the same quarter a year earlier.

Adjusted net income for the fourth quarter came in at $232,000, up from $155,000 for the same quarter a year earlier. Analysts had expected earnings of $134,000.

Freshii says total revenue, which includes its franchised shops and its company-owned stores, totalled $5.65 million for the quarter, up from $4.85 million a year earlier.

Company CEO Matthew Corrin says the company has a lot of work to do in the year ahead and will focus on simplifying in-store operations, improving its menu, and investing more in marketing and technology.