Simply Good Foods Lifts FY Net Sales Outlook - Quick Facts

(RTTNews) - The Simply Good Foods Co. (SMPL) said that it expects net sales and Adjusted EBITDA for the 53 weeks ended August 31, 2019, to be slightly greater than the prior outlook.

On July 2, 2019, the company anticipated that full year fiscal 2019 net sales and Adjusted EBITDA growth would be similar to the nine-month year-to-date percentage increases of 18.9% and 23.3%, respectively. The fiscal 2019 results include the benefit of a fifty-third week which the company believes is about a 2% benefit to fiscal 2019 net sales growth.

In a separate press release, the Simply Good Foods Company announced that it plans to offer in an underwritten public offering 13.38 million shares of the company's common stock.

The company said it plans to use the net proceeds from the Offering to pay a portion of the purchase price and related fees and expenses for its previously announced acquisition of Quest Nutrition, LLC, or for general corporate purposes if the acquisition is not consummated.