Goodfood’s Active Subscribers Count Increases 83% Year-Over-Year and Reaches 230,000

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MONTREAL, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX: FOOD), a leading online grocery company in Canada, announced today it has reached 230,000 active subscribers with the addition of 30,000 net new active subscribers in the first quarter of Fiscal 2020 ended November 30, 2019. This represents an increase of 83% compared to the same period last year.

“We are very pleased with the solid subscriber growth achieved during the important back-to-school period. Obtaining continued growth on a much larger member base confirms Goodfood’s momentum in the market and among Canadian consumers,” said Jonathan Ferrari, Chief Executive Officer of Goodfood. “This subscriber growth was driven by a combination of factors including the seasonal ramp-up of our targeted marketing campaigns. In addition, Western Canada continues to grow at a fast pace, and we have also seen robust growth in Ontario, where we now have as many members as we do in the province of Quebec and still have ample runway to add members. Our new product offerings have also begun contributing more meaningfully to our overall performance as we scale up our private label grocery products as well as ready-to-eat meals in new provinces, resulting in a more complete offering to our members and an increase in average order value,” concluded Mr. Ferrari.

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Globe Newswire: 11:30 GMT Tuesday 3rd December 2019

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