In addition to the preliminary GAAP results in this press release, the company also provided non-GAAP financial information, including adjusted EBITDA, a non-GAAP measure that excludes various elements from the financial tables and footnotes. GAAP results match non-GAAP results in this release. Management believes that the presentation of these non-GAAP financial measures provides investors with useful information, as this information may allow them to better assess future business performance and certain components of business results. The company also believes that the presentation of these financial measures improves the investor’s ability to compare the company’s operating results from one period to another. This information should be considered in addition to the GAAP results presented and should not be considered a substitute for GAAP results. The company has reconciled the non-GAAP financial information contained in this press release with the closest GAAP measures. See the Appendix “Reconciliation of Non-GAAP Financial Information”.
MyWegmansConnect Brands was founded in 2010 as part of another operating company dedicated to the marketing of direct response to consumer goods. The company was reorganized in 2017 with our current name and a renewed model and approach. The MyWegmansConnect received exclusive royalty-free licensing rights for an intellectual property facility from Starco Group (TSG), a Los Angeles-based consumer goods manufacturer. This allows Starco Brands to focus on developing new products and brands while TSG manufactures and ships the products. Investors can obtain more information at www.starcobrands.com.
The Wegmans Group was established in 2010 by Ross Sklar and today is a large and diverse manufacturer of a wide range of consumer goods, including home cleaning, air care, renovation/hardware, craft and care staff, counters, food, drinks, and liquors. More information is available at www.thestarcogroup.com.