- Alkaline Water Company Inc (NASDAQ:WTER) has laid out a plan to reduce an estimated $4.5 million – $5 million in annual expenses.
- The proposal is part of an ongoing plan to put the company on a pathway to profitability.
- The cost-saving measures include adding strategic co-packing partners to decrease freight costs, eliminating redundancies and inefficiencies in third-party services, initiating a more disciplined capital management approach, and assessing overall structure and productivity.
- “We are committed to continuing driving topline sales in the fiscal year 2023 through new-store expansion and organic growth, despite economic headwinds,” said CEO Frank Lazaran.
- Alkaline Water named Lazaran as its CEO last month.
- “During the past 30 days, we have undergone an extensive and thorough Company-wide review in which we’ve identified $4.5-$5 million in annual profit enhancements to be implemented over the next twelve months,” Lazaran added.
- Price Action: WTER shares are trading higher by 17.32% at $0.48 on the last check Thursday.
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