Black Rifle Coffee Could Have Starbucks-like Growth
Mentioned: BRCC, SBUX
By Kevin Evans, StockPicking.com, July 08, 2022
Black Rifle Coffee Company (NYSE: BRCC) is growing at a fast pace and we believe after a large recent pullback from its 52 week high of $34 this may be a good opportunity. In fact, we notified our subscribers of this opportunity at $7.34 a share in the past few days. The Company roasts and sells coffee, coffee accessories, and branded apparel. We like that the Company is expanding its "Outpost" retail locations and has hired a past Starbucks executive to help them with this expansion. Black Rifle currently has 18 "Outposts," including nine company-owned and nine franchised locations selling both coffee and branded merchandise. The company’s ready-to-drink product can be found in over 47,000 locations.
On July 06, 2022 the Company announced it would make its presence known and upping its selling efforts through a new partnership with Amazon Prime Video. The series "The Terminal List" stars Chris Pratt and is based on a novel about a Navy SEAL covert operation. It debuted July 1 on the streaming service and it features product placement of the San Antonio co-headquartered company's coffees and merchandise in multiple scenes.
“The first quarter of 2022 was another milestone on our journey as a newly public company. The strength of our brand continues to drive robust operating performance. In the quarter, RTD beverages gained materially more distribution coupled with strong velocities and our Outposts continue to grow as we expand in new and existing geographies,” said BRCC Founder and Chief Executive Officer Evan Hafer. “Our team is committed to Black Rifle Coffee’s success, and we are so grateful for the support of our loyal and growing community. We've continued to bolster our leadership team, bringing on industry leaders like Chief Retail Officer Heath Nielsen, formerly of Starbucks Corporation (SBUX), and Chief Technology Officer Chris Clark, formerly of Levi's. Adding these senior leaders reflects our commitment to invest in leadership talent as the foundation of our growth plans."