Page 1

December 9 , 2021 H kaspien Kaspien Holdings Inc. Reports Fiscal Third Quarter 2021 Results Strong Results in Key Growth Areas Highlighted by 15 % Increase in Subscription GMV , 15 % Increase in Subscription Monthly Recurring Revenue , and 38 % Increase Across Private Label Retail Brands Continued Outperformance in Non - Amazon Segments , Including Target Marketplace and Other Emerging Channels , Accelerates Growth 127 % Year - Over - Year SPOKANE , Wash . , Dec. 9 , 2021 / PRNewswire / -- Kaspien Holdings Inc. ( NASDAQ : KSPN ) ( " Kaspien " or the " Company " ) , a leading e - commerce marketplace growth platform , today reported financial results for the fiscal third quarter ended October 30 , 2021 . kaspien Recent Operational Highlights • Fiscal third quarter 2021 Subscription gross merchandise value ( " GMV " ) increased 15 % to $ 30.1 million ( 47.3 % of total GMV ) , compared to $ 26.2 million ( 39.2 % of total GMV ) in the comparable year - ago period . • Kaspien Private Label brands grew 38 % over the comparable year - ago period . Sales from Kaspien Private Label brands improved largely as a result of being under end - to end supply chain management . The Company believes these continued , strong results in controlled areas is indicative of broader sustained demand across the portfolio , which is currently being impacted due to global supply chain challenges . • Amended existing loan agreement with Eclipse Business Capital , providing additional flexibility to execute on the Company's long - term business initiatives and aligning capital sources with Kaspien's growth goals . • Appointed David Sayyed Vice President of Brand Growth . In this newly created role , Sayyed will leverage his expertise in strategic brand growth and developing frameworks to strengthen Kaspien's brand portfolio of existing partner relationships as well as enhance the current services and offerings for customers . • To better align with the growth goals of the Company and to support its aspirations of