Premium coffee brand Black Rifle Coffee Company (NYSE:BRCC), is celebrating the grand opening of another one of its ‘outposts,’ its Woodstock Coffee Shop in Cherokee County, Georgia. The veteran-focused coffee business is looking to expand its footprint across the country and double down on its cultural values. According to Evan Hafer, the company founder and chief executive officer, “[this] new store is a symbol of a commitment that will only continue to grow from here.” This looks good for BRCC stock, as well.
BRCC stock has attracted conflicting opinions from analysts due to its focus on a specific market subset. The company aims to become a community-driven brand, leaning to the right of the political spectrum.
However, the business has been booming as of late. Its sales rose to $71.8 million in its fourth quarter, almost a 20% improvement from the prior-year quarter. Moreover, it increased its 2022 revenue guidance to $315 million, a $4 million increase from previous estimates.
Wholesale and franchise sales will be pivotal in driving company sales in the future. The business is looking at a whopping $200 million bump in sales over the next two years. Moreover, it aims to get 80% of its sales from outpost and wholesale channels.
Therefore, the Woodstock Coffee Shop is likely to be one of many shops it will be opening in the next few years. Additionally, these outposts also have a major role in developing the perception about the company being a lifestyle brand.
The next couple of years will be extremely important for expansion. It will be looking to build its brand by opening new outposts and its trenchant media business.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines