WCVC Announces 26% YoY Sales Growth and Pays Down Debt

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Aug 27, 2019, 08:00 ET

DENVER, Aug. 27, 2019 /PRNewswire/ -- West Coast Venture Group, Corp. (WCVC) ("WCVC") is pleased to share the incredible progress that the company has made over the last six months.

Our year over year results for Q2 have shown a 26.54% percent increase in revenue of totalling $944,424 compared to $746,327 for the same period last year. Our year over year same store sales grew 7.92% for the second quarter as well. In an industry that has reflected declines in same store revenues over the last few years, WCVC is showing a consistent growth pattern where industry counterparts are losing ground.

The overall increase is largely attributable to the location in Glendale, CO, which opened in October 2018.

The company has also managed to reduce cost of sales by around 0.3%, and has begun to offset a drop in the gross restaurant profit through slightly increased prices and a variety of efficiency boosting measures. Over the coming weeks, the company will go into more granular detail on future expansion plans to supplement brick and mortar sales.

Our Illegal Pizza restaurant was opened in the last week of the quarter, and the new location has received a positive consumer response and is likely to act as a significant driver of growth over the coming quarters.

It is important to note that, despite large interest payments, WCVC has been able to consistently pay down on the debt it owes to third party financiers. The company plans to continue along the same trend, which will help it offset losses and put it in a much stronger position.

"Our 3 month results are in line with positive Q1 2019 results and all signs point to a landmark year in 2019," said Jim Nixon, Founder and CEO. "We will be supplementing these results with more press releases detailing out future plans over the coming weeks."

About West Coast Ventures Group Corp.

Based in Denver, Colo, West Coast Ventures Group Corp. (WCVC) is America's first CBD restaurant stock under Illegal Brands and operates a number of contemporary restaurant concepts including the flagship Illegal Burger a quick-casual burger + bar concept. Led by seasoned restaurant entrepreneurs, WCVC management is committed to scaling both modern sustainable concepts into national franchise models operating metro-styled restaurants serving only the finest and freshest natural ingredients.

Forward-Looking Statements

This document may contain forward-looking statements, relating to West Coast Ventures Group Corp operations or to the environment in which it operates, which are based on West Coast Ventures Group Corp operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond West Coast Ventures Group Corp control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. West Coast Ventures Group Corp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Jim Nixon
CEO West Coast Ventures Group, Corp.
+1(303)423-1300
[email protected]

https://www.westcoastventuresgroupcorp.com/

https://www.illegalburger.com/

https://www.illegalpizza.restaurant/

https://www.illegalbrands.com/

SOURCE West Coast Venture Group, Corp.