Alkaline Water's New CEO Lays Out Cost Cutting Plans

Alkaline Water Company Inc WTER has laid out a plan to reduce an estimated $4.5 million - $5 million in annual expenses.
The proposal is part of an ongoing plan to put the company on a pathway to profitability.
The cost-saving measures include adding strategic co-packing partners to decrease freight costs, eliminating redundancies and inefficiencies in third-party services, initiating a more disciplined capital management approach, and assessing overall structure and productivity.
"We are committed to continuing driving topline sales in the fiscal year 2023 through new-store expansion and organic growth, despite economic headwinds," said CEO Frank Lazaran.
Alkaline Water named Lazaran as its CEO last month.
"During the past 30 days, we have undergone an extensive and thorough Company-wide review in which we've identified $4.5-$5 million in annual profit enhancements to be implemented over the next twelve months," Lazaran added.
Price Action: WTER shares are trading higher by 17.32% at $0.48 on the last check Thursday.