1847 Goedeker & Appliances Connection Report Strong Start to Q2 with Combined April Written Orders Up 100% to $82.9M & April ...
03 Giugno 2021 - 2:01PM
Business Wire
1847 Goedeker Inc. (NYSE American: GOED) (“Goedekers” or the
“Company”) and its Appliances Connection business, the largest
pure-play online retailer of household appliances in the US, are
pleased to report continued strong order and revenue growth in
April.
April Written Orders:
- Goedekers’ written orders for April rose 85% year-over-year to
$12.2 million
- Appliances Connection’s written orders for April rose 103% to
$70.7 million
- On a pro forma combined basis, written orders for April rose
100% to $82.9 million
April Revenues:
- Goedekers’ April revenue rose 56% year-over-year to $5.6
million
- Appliances Connection’s April revenue rose 161% to $39.6
million
- On a pro forma combined basis, April revenue rose 140% to $45.2
million
“We are thrilled to report an exceptional start to the second
quarter, with our combined operations surpassing a $500 million
annual revenue run rate,” stated Doug Moore, CEO of Goedekers. “We
believe that we have established a great track record of driving
order growth and consumer demand for online appliance purchases to
continue to grow. With our new fulfillment center now in operation,
which triples our capacity, combined with recent inventory
purchases and infrastructure improvements, as well as the
completion of the Appliances Connection acquisition, we believe
that we are operating from a strong foundation, and I remain
confident we are well on-track to building a billion-dollar
business.”
“With the acquisition now complete, we have begun the process of
creating a better structured operation to efficiently capitalize on
the rapidly growing direct-to-consumer, or DTC, market for online
appliance purchases,” Albert Fouerti, President of Goedekers. “I
believe we are now in a great position to accelerate market share
growth, making a formidable force in the consumer appliances
market.”
The US household appliance market, estimated at $21 billion and
growing at a 13.7% CAGR, is expected to reach $40 billion by
2025.
About 1847 Goedeker Inc.
1847 Goedeker Inc. is an industry leading e-commerce destination
for appliances, furniture, and home goods. Through its June 2021
acquisition of Appliances Connection, Goedekers created the largest
pure-play online retailer of household appliances in the US. With
warehouse fulfillment centers in the Northeast and Midwest, as well
as showrooms in Brooklyn, New York, and St. Louis, Missouri,
Goedekers is a respected nationwide omnichannel retailer that
offers one-stop shopping for national and global brands. Goedekers
and Appliances Connection carry many household name-brands,
including Bosch, Cafe, Frigidaire Pro, Whirlpool, LG, and Samsung,
and also carries many major luxury appliance brands such as Miele,
Thermador, La Cornue, Dacor, Ilve, Wolf, Jenn-Air, Viking among
others and sells furniture, fitness equipment, plumbing fixtures,
televisions, outdoor appliances, and patio furniture, as well as
commercial appliances for builder and business clients. Learn more
at www.Goedekers.com.
Forward Looking Statements
This press release contains “forward-looking statements” that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
"will” “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on 1847 Goedeker
Inc.’s current expectations and are subject to inherent
uncertainties, risks and assumptions that are difficult to predict.
Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
These and other risks and uncertainties are described more fully in
the section titled “Risk Factors” of the reports that we file with
the Securities and Exchange Commission. Forward-looking statements
contained in this announcement are made as of this date, and 1847
Goedeker Inc. undertakes no duty to update such information except
as required under applicable law.
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Dave Gentry, CEO RedChip Companies Office: 1.800.RED.CHIP
(733.2447) Cell: 407.491.4498 dave@redchip.com
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