CALGARY, Alberta, Oct. 21, 2021 (GLOBE NEWSWIRE) -- CE Brands Inc. (TSXV: CEBI; CEBI.WT) (“CE Brands”, “we”, “our”, or the “Company”), a data-driven consumer-electronics company, is providing an operational and financial update, including initiatives being taken to address global supply chain challenges, preliminary revenue results for the recent quarter ended September 30, 2021, revised outlook and recent growth milestones achieved.
“It is widely known that the consumer electronics industry is experiencing worse than expected production, logistical and supply chain challenges. While this has hampered the timing of our anticipated sales growth and led us to reassess our near-term financial and operational priorities, we remain encouraged by the operational momentum we have recently experienced, and are confident in the growth potential of our business.” said Craig Smith, CEO of CE Brands.
“In response to the logistical challenges, we have launched a series of initiatives to stabilize our business, including supply-chain improvements, reductions in SG&A and strategically prioritizing our product portfolio to conserve cash and improve near-term profitability. I believe we are in the early stages of recapturing momentum with our product deliveries and sales. The recent additions to our senior operations team in Hong Kong and China have already resulted in improvements to our supply chain management and positioned us to deliver on our upcoming product launches.”
Mr. Smith...
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