Monday, 17 March 2008

Planet Organic Runs On Old Phrase

(TSX:V - POH)
Planet Organic took the old expression, “Go big or go home,” to heart by opening its biggest Canadian store in the biggest city - Toronto.
The 13,400 square foot store will be located in what is called the Greater Toronto Area (GTA), which has a population of about five million and encompasses a number of independent communities to the west, north and east of the downtown.
The new Planet store is in the northwest section of the GTA, surrounded by the affluent and densely populated suburbs of Vaughan and Richmond Hill.
This is the second GTA store. The first opened last year in the town of Port Credit, which lies due west of Toronto. Altogether, there are nine Planet stores across the country.
Planet Organic Market is a division of Planet Organic Health Corp., which also owns and operates other organic and natural food retailers, a vitamin and supplement manufacturer and vitamin/supplement retailers.
Darren Krissie, Planet Organic Health’s VP of Corporate Development and its CFO, said expansion has helped to grow annual revenues from all divisions from $1.6 million to a forecasted $100+ million for this fiscal year, ending June 30th.
Early last month, Planet Organic Health announced the pending acquisition of another chain of organic/natural food retailers in California.
To view the full press release please click here.