Nightfood, Inc. (OTCQB: NGTF) just announced that it has teamed up with Sonesta International Hotels Corporation to offer Nightfood’s sleep friendly snacks across multiple brands.
Miami, FL–(March 13, 2023) – EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Nightfood, Inc. (OTCQB: NGTF).Nightfood Holdings, Inc. (OTCQB: NGTF), the company pioneering the sleep-friendly nighttime snacking category, announced today that Sonesta International Hotels Corporation (Sonesta) is the first hotel company to introduce sleep-friendly Nightfood ice cream pints across multiple brands. See the full press release here.
Sonesta is launching Nightfood into approximately 160 managed Sonesta Select, Sonesta ES Suites, and Sonesta Simply Suites properties nationwide during Sleep Awareness Week beginning on March 12, 2023.
Prior to this announcement, Nightfood Holdings, Inc. had a market cap of just over $10 million.
Nightfood (OTCQB: NGTF) has tested and closed above its December 2020 low pivot points or support, twice over the past 6 months. If it holds support, the stock has room to .18 – .21 and if it breaks through, the next resistance levels are .30 and .52. One could argue that, based on a technical analysis, if it breaks its first level of resistance, it has room to begin to test its highs.
In early 2020, Sonesta had 80 hotels worldwide, and today, Sonesta is the eighth largest hotel company in the United States, with approximately 1,200 properties totaling 100,000 guest rooms across 17 brands in eight countries.
Elizabeth Harlow, Chief Marketing & Brand Officer, Sonesta.
“We’re delighted to provide our guests the option to choose a Nightfood sleep-friendly snack that contains less sugar than traditional ice cream while formulated to support better sleep across Sonesta Select, Sonesta ES Suites and Sonesta Simply Suites managed properties nationwide.”
The first phase of the roll-out across the three Sonesta managed brands features Nightfood ice cream pints in Cookies n’ Dreams and Midnight Chocolate flavors available for purchase in hotel lobby markets.
More on Nightfood Holdings, Inc. (OTCQB: NGTF):
Impulsify ImpulsePoint point-of-sale hotel data shows that Nightfood is challenging Haagen Dazs when head-to-head in hotel lobby shops. In November, across the complete subset of 29 hotels that only carried those 2 brands and for which Impulsify data was available, Nightfood accounted for 42% of all pint volume and outsold Haagen Dazs in 38% of the hotels, despite carrying a higher average retail price. Link to release here.
Further, Nightfood outsold Ben & Jerry’s and Baskin Robbins in a separate controlled hotel lobby shop test. In that test, third-party point of sale data collected across more than 30 major hotels for nine weeks of sales showed Nightfood pints captured 43% of all pint volume. Ben & Jerry’s had 34%, and Baskin Robbins had 23%. All pints were priced at the same $8.50 per pint during this testing period. See the full release here.
Since launching into national hotel distribution in May of 2022, Nightfood has secured placements in select locations of major hotel chains including Courtyard by Marriott (NASDAQ: MAR), Hyatt Hotels Corp.’s (NYSE:H) Hyatt House, InterContinental Hotels Group (NYSE: IHG) Holiday Inn Express, Candlewood Suites, Springhill Suites, Fairfield Inn, Crowne Plaza, Sonesta, and many more.
According to Morningstar’s “Undervalued Defensive Stocks to Buy Now”, Consumer defensive companies are engaged in the manufacturing of food and beverages, household and personal products, packaging, and tobacco. In the same article Kellogg (NYSE: K), a manufacturer of market snacks and convenience food made Morningstar’s list of the 9 most undervalued stocks.
There is a lot of investment chatter regarding food stocks:
Motley Fool’s Josh Kohn-Lindquist “Hormel Foods (NYSE: HRL) should be a prime rebound candidate after temporary issues held it back in 2022.”
The Hershey Company (NYSE: HSY) $240 million stock buyback
The Coca-Cola company (NYSE: KO) showed strong earnings in its Q4 2022 report.
Barons mentions in “Four Food Stocks for Growth” J&J Snack Foods Corp. (NASDAQ: JJSF), Lam Weston Holdings (NYSE: LW), and Cal Maine Foods (NASDAQ: CALM).
Should Nightfood (OTCQB: NGTF) have made the list of Timothy Green of Motley Fool’s “Best Food Stocks to Buy in 2023” which includes: General Mills (NYSE: GIS), Tyson Foods (NYSE: TSN) Mondelez International (NASDAQ: MDLZ), PepsiCo (NASDAQ: PEP), (Beyond Meat (NASDAQ: BYND), and (Sprouts Farmers Market (NYSE: SFM)?
Nightfood recently announced both a global airline and national hotel chain will soon be testing Nightfood cookies as amenities to be given to travelers as nighttime snacks. The Company estimates that cookies offered as a check-in amenity in a national hotel chain could deliver the revenue equivalent of retail distribution in thousands of hotel lobby markets.
Nightfood Holdings, Inc. (OTCQB: NGTF) is clearly one to look at taking into account a technical analysis of its chart, and recently released news.
Nightfood is pioneering the category of sleep-friendly nighttime snacking.
Over 80% of Americans snack regularly at night, resulting in an estimated 700 million nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion. The most popular choices are ice cream, cookies, chips, and candy. Recent research confirms such snacks, in addition to being generally unhealthy, can impair sleep, partly due to excess fat and sugar consumed before bed.
Nightfood’s sleep-friendly snacks are formulated by sleep and nutrition experts to contain less of those sleep-disruptive ingredients, along with a focus on ingredients and nutrients that research suggests can support nighttime relaxation and better sleep quality.
The brand is currently focused on establishing widespread national distribution of Nightfood ice cream, cookies, and other snack formats in the hotel vertical.
Hotels are increasingly focused on supporting guest wellness. The Company believes one important way for hotels to do that is by offering sleep-friendly snacks in their grab-and-go lobby shops.
With an estimated 56,000 hotels across the United States, expanding distribution into a significant number of those hotels is expected to lead to profitability, consumer adoption of the nighttime snack category, and a strategically defensible position from which category leadership can be maintained.
Questions can be directed to investors@Nightfood.com
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Forward Looking Statements:
This current press release contains “forward-looking statements.” Statements in this press release which are not purely historical (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, sales projections, potential customers, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, (a) the inherent uncertainties associated with distribution of our products, (b) the market acceptance of our products at all levels of distribution and sale, including retail purchasers, wholesalers and hotel chains, (c) the success and commitment of our distribution partners to access distribution channels and successfully engage with sellers of our products, including, supermarkets and hotel chains, and our success in obtaining purchase orders from hotel chains, supermarkets and others, (d) competition from existing and new companies and products and (e) difficulties associated with obtaining financing on acceptable terms . These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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