Tofutti Brands Inc. Reports Decrease in Sales for Third Quarter of 2024

Cranford, New Jersey, Nov. 18, 2024 (GLOBE NEWSWIRE)

TOFUTTI BRANDS INC. (OTCQX Symbol: TOFB) announced its results for thirteen and thirty-nine weeks ended September 28, 2024. The company reported a decrease in net sales for the thirteen weeks ended September 28, 2024 compared to the same period in 2023.

According to the report, net sales for the thirteen weeks ended September 28, 2024 decreased by $529,000, or 21%, to $1,986,000. Sales of vegan cheese products saw a decrease to $1,648,000, while sales of frozen dessert products also decreased to $338,000.

The decrease in sales of vegan cheese products was attributed to the introduction of competitive products in the vegan cheese category and a decline in export cheese business. On the other hand, the decrease in frozen dessert product sales was due to a decrease in sales of frozen dessert pints.

Impact on Consumers

Consumers who are fans of Tofutti Brands’ vegan cheese and frozen dessert products may see changes in availability or pricing as the company adjusts to the decline in sales. They may also have to choose from a wider range of options in the vegan cheese market as competition increases.

Global Implications

The decrease in sales for Tofutti Brands Inc. could have ripple effects on the global market for vegan products. Competitors in the industry may see an opportunity to expand their market share, while consumers may benefit from a greater variety of vegan cheese options.

Conclusion

While Tofutti Brands Inc. has reported a decrease in sales for the third quarter of 2024, the company has the opportunity to adapt to changing market conditions and innovate to regain its market share. Consumers and the global market for vegan products may see shifts as a result of these changes, but ultimately, competition and innovation can lead to a more diverse and dynamic market.