Organic Garage Grows with Higher COVID-19 Demand and New Store Set to Open in 2021 November 17, 2020 - Baystreet.ca eResearch Corp. (www.eresearch.com) published a 29-page initiation equity Research Report on Organic Garage Ltd. (TSXV:OG). Organic Garage is an independent Canadian chain of grocery stores providing organic and natural products in Toronto and the Greater Toronto Area in southern Ontario, Canada. The Company focuses on providing customers with healthy food choices at low cost. Its store concept checks many boxes with today’s food customer: healthy food, good value, small store convenience, and an overall premium shopping experience. With the upswing in food retail due to the stay-at-home measures from the current COVID-19 health crisis, Organic Garage recognized revenue increases in the past two quarters of 19% and 29% year-over-year, respectively. We believe this sales trend should continue well into 2021. Fortuitously, in January, the Company entered into an agreement with Cornershop to utilize Cornershop’s app and website for online ordering and home delivery that met the surge in digital demand. Online sales, currently representing 6.0% of sales, should continue to increase as customers embrace the Ecommerce lifestyle. Organic Garage’s new store, located in the fashionable neighbourhood of Leaside, is set to open in 2021 and could boost revenue by as much as 25% once fully operational. Operational margins should improve in 2021 as a result of cost reductions implemented in the past year and the shift to a decentralized distribution model by closing its central warehouse. Organic Garage competes with Amazon.com (NASDAQ:AMZN) subsidiary, Whole Foods Market, and Empire Company Limited (TSX:EMP.A) subsidiary, Farm Boy; however, our recent market research indicates that Organic Garage prices were 10-20% less expensive. For more information about eResearch's 29-page initiation equity Research Report on Organic Garage, please visit eResearch's website (www.eresearch.com). Disclaimer / No representations, express or implied, are made by eResearch as to the accuracy, completeness or correctness of its research. Opinions and estimates expressed in its research represent eResearch’s judgment as of the date of its reports, are subject to change without notice, and are provided in good faith and without legal responsibility. Its research is not an offer to sell or a solicitation to buy any securities. The securities discussed may not be eligible for sale in all jurisdictions. Neither eResearch, nor any person employed by eResearch, accepts any liability whatsoever for any direct or indirect loss resulting from any use of its research or the information it contains. eResearch reports may not be reproduced, distributed, or published without the express permission of eResearch. eResearch accepts advertising and other fees from companies, financial institutions, other third parties, and Institutional and Retail Investors. The purpose of this policy is to defray the cost of researching small and medium capitalization stocks which otherwise receive little or no research coverage. To ensure complete independence and editorial control over its research reports, eResearch follows the CFA Institute’s “Best Practice Guidelines Governing Analyst/Corporate Issuer Relations”.
Organic Garage Grows with Higher COVID-19 Demand and New Store Set to Open in 2021 November 17, 2020 - Baystreet.ca eResearch Corp. (www.eresearch.com) published a 29-page initiation equity Research Report on Organic Garage Ltd. (TSXV:OG). Organic Garage is an independent Canadian chain of grocery stores providing organic and natural products in Toronto and the Greater Toronto Area in southern Ontario, Canada. The Company focuses on providing customers with healthy food choices at low cost. Its store concept checks many boxes with today’s food customer: healthy food, good value, small store convenience, and an overall premium shopping experience. With the upswing in food retail due to the stay-at-home measures from the current COVID-19 health crisis, Organic Garage recognized revenue increases in the past two quarters of 19% and 29% year-over-year, respectively. We believe this sales trend should continue well into 2021. Fortuitously, in January, the Company entered into an agreement with Cornershop to utilize Cornershop’s app and website for online ordering and home delivery that met the surge in digital demand. Online sales, currently representing 6.0% of sales, should continue to increase as customers embrace the Ecommerce lifestyle. Organic Garage’s new store, located in the fashionable neighbourhood of Leaside, is set to open in 2021 and could boost revenue by as much as 25% once fully operational. Operational margins should improve in 2021 as a result of cost reductions implemented in the past year and the shift to a decentralized distribution model by closing its central warehouse. Organic Garage competes with Amazon.com (NASDAQ:AMZN) subsidiary, Whole Foods Market, and Empire Company Limited (TSX:EMP.A) subsidiary, Farm Boy; however, our recent market research indicates that Organic Garage prices were 10-20% less expensive. For more information about eResearch's 29-page initiation equity Research Report on Organic Garage, please visit eResearch's website (www.eresearch.com). Disclaimer / No representations, express or implied, are made by eResearch as to the accuracy, completeness or correctness of its research. Opinions and estimates expressed in its research represent eResearch’s judgment as of the date of its reports, are subject to change without notice, and are provided in good faith and without legal responsibility. Its research is not an offer to sell or a solicitation to buy any securities. The securities discussed may not be eligible for sale in all jurisdictions. Neither eResearch, nor any person employed by eResearch, accepts any liability whatsoever for any direct or indirect loss resulting from any use of its research or the information it contains. eResearch reports may not be reproduced, distributed, or published without the express permission of eResearch. eResearch accepts advertising and other fees from companies, financial institutions, other third parties, and Institutional and Retail Investors. The purpose of this policy is to defray the cost of researching small and medium capitalization stocks which otherwise receive little or no research coverage. To ensure complete independence and editorial control over its research reports, eResearch follows the CFA Institute’s “Best Practice Guidelines Governing Analyst/Corporate Issuer Relations”.