Shares of specialty beverage maker, Jones Soda Co. (Nasdaq: JSDA) continued their climb, which started last Thursday after the company announced a distribution deal with retail giant, Wal-Mart Stores, Inc. (NYSE: WMT).
Shares were up 22 percent in morning trading on Tuesday,June 1st, 2010
The deal allows Jones to sell its products in Walmart’s approximately 3,800 U.S.-based stores, and increases the beverage maker’s total retail outlet distribution by about almost 10 percent. The Walmart rollout was granted following a successful test of several different-flavored 6-packs that were available in 750 stores.
Walmart officially authorized Jones Soda products on May 3rd and began rolling it out on shelves, with plans to have product in nearly all U.S. stores by the end of last month.
“The Walmart deal allows for another one of America’s premier retailers to offer Jones,” said Jones CEO William Meissner in a statement. “Walmart greatly expands our distribution footprint and truly makes our product accessible to everyone, which is something the Jones Soda brand has always stood for. Now, almost anyone, anywhere in the U.S. can seek out a nearby store or stumble upon our product and purchase it on the spot. We are incredibly energized by the growth potential this Walmart expansion brings.”
The stock has traded between 40 cents to $1.42 per share over the past year.