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Jamieson Wellness Inc.
5/5/2021
conference call, you're pretty comfortable about volume, growing volumes for the year, as well as just top line of that. Is that still the case, number one? And can you maybe give us a sense of what you expect pricing to be? I think there was an announcement that there's a mid-quarter price increase. So can you maybe talk to that a little bit?
Yeah, sure. Yeah, I appreciate the question. Yeah, we still expect to deliver growth on the year in all of our segments. You know, we have more confidence, I would say, than we even have had in previous quarters. And as we continue to go through quarter through quarter of this pandemic, we gain more confidence. And the reason is we continue to see those new consumers that we talked about all through the last year stay in the category. And we continue to see consumers that increase their use of vitamins, minerals and supplements and their compliance levels through the pandemic. We've seen that stick in Q1. And what gives us confidence is as we got through Q1, we saw continued growth versus 2020 in the first two months of the quarter. When we got into March, we started cycling what we've been calling the panic buying period of 2020, which is about eight weeks of panic buying we saw in the category. As we got into that period, we did see some consumption declines as we expected, most notably in the immunity-based side of the business. But when we compare it to 2019 pre-pandemic levels, It also came in at our expected levels of showing very high baseline business and very strong compliance and a very high level of these new consumers sticking in the category, which we expect we will continue to see for the rest of the year and into the long term. So our confidence through the quarter actually has grown in our ability to deliver growth on the year. When it comes to pricing, you're correct. We announced that we did take some pricing. We put it into market mid-quarter. It will be in our business moving forward, and it is reflected in our guidance that we have given both on quarter two and on a full-year basis. We're not disclosing the pricing and all of the details around that for competitive reasons, but what I can tell you is in quarter one, we did see a combination of some volume growth and some pricing growth, and we expect to continue to see that for some time. Also to note is pricing that we put in the market was put in to reflect and offset increases in commodities and some different expenses we're seeing on our P&L. is a complete offset and was a responsible price increase to both offset prices and make sure we were being responsible to the consumers in the marketplace.
Okay. In the past, you gave us the annual growth expected for JME Domestic. Would you be prepared to maybe give us that number for Q2?
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