Broomfield, CO – Aug 02, 2017 – Feel the World, Inc., makers of Xero Shoes, announced today gross revenue of $2.34M for the six month period of January 1 – June 30, 2017, an increase of 80.1% over the same period in 2016 and 68.2% over July 1 – December 31, 2016.
The company credits an expanded product line as one of the key growth drivers. Says CEO Steven Sashen, “We’re thrilled to see both existing and new customers make our new Prio our best-selling product.” Prio is a lightweight running and athletic shoe built to allow natural foot movement with a “foot-first” design. The number of FTWI’s website customers has increased 23.65% in the first half of 2017 and sales via Amazon are up 122.7% over the same period in 2016.
“We have also revised our revenue projections after assessing changes in the retail landscape and the strong growth of our direct-to-consumer channels” added CFO Lena Phoenix. “We have decided to move with the market and have revised our projections to reflect our change in emphasis towards growing our direct-to-consumer and independent wholesale channels while scaling back the focus and expectations for key accounts.” Consistent with this refined focus on direct-to-consumer marketing, the Company would like to announce that Emilio Torres, Vice President of Sales and Marketing, has departed the Company.
Revised revenue projections are listed below:
Online Revenue $4,395,000 $9,589,000
Distributor Revenue $54,000 $268,000
Wholesale Revenue $653,000 $2,416,000
Total Revenue $5,102,000 $12,273,000
“We are looking forward to publishing our June 30, 2017 financials in September,” said Phoenix. The Company will issue a press release and schedule an investor presentation at that time.
Feel The World, Inc. of Broomfield, CO, manufactures Xero Shoes®, lightweight, performance recreation footwear. Durable, stylish and affordable — Xero Shoes supply the fun and benefits of natural, barefoot-inspired movement plus a layer of protection and comfort. FTWI launched in December 2009 and now has customers ages 1 to 91, in 94 countries who wear Xero Shoes for walking, hiking, yoga and gym-going, Crossfit, kayaking, rafting, paddle boarding, jogging, and even running hundred-mile ultra marathons.
THIS PRESS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THIS OFFERING PRESS RELEASE, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE.
This is not an offer to buy or sell securities. Any securities offered are qualified in their entirety by and subject to the terms of the Offering Circular, which can be found at https://xeroshoes.com/sec. Investing in shares of Feel the World, Inc. is highly speculative involves significant risks and is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the shares of Feel the World, Inc, and if a public market develops following this offering, it may not continue. Also, past performance should not be relied upon as a forecast of future performance.
Suze Bragg, VP Investor Relations
T: 303.447.3100 x1012
Company Name: XERO SHOES
Contact Person: Suze Bragg
Phone: 303.447.3100 x1012
Country: United States