ST. CHARLES, Mo., July 12, 2021 /PRNewswire/ --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 U.S., is pleased to report
continued strong growth with record monthly orders and revenue
results. June 2021 monthly orders
increased 19.2% from the prior year period to $73.2 million while June
2021 monthly revenues totaled $55.7
million, representing a 47.8% increase over the June 2020 results.
"We are incredibly pleased with the continued strong momentum
during the first half of this year, as June marks a record
performance for the organization," stated Doug Moore, CEO of Goedekers. "Throughout the
past month, we have experienced a significantly improved fill rate
of 76.1%, up from 61.4% in June of 2020, along with record
shipments. We are encouraged by the sequential progress we made in
revenue achievement versus orders as the fill rate of 76.1% is at
its highest level for 2021. Suppliers continue to take steps to
improve supply, although our fill rate has a significant
opportunity for improvement beyond the 76% achieved in June.
Speed of delivery and the customer satisfaction levels for delivery
remain at the forefront of our strategic plan."
Moore continued, "The first month of being a combined company
went well. As we continue to pursue our long-term goals and
model of investments driving scalable profitable growth, we believe
we are in a great position to continue this momentum through the
balance of the year."
"Let me also add some detail on this week's acquisition
announcement. We entered into an asset purchase agreement with
Appliance Gallery, a highly regarded Largo, Florida-based luxury appliance retailer
and will be able to pay the cash purchase price that is due at
closing for the acquisition out of our positive operating cash
flow. There will not be any offering or other financing associated
with the transaction," concluded Moore.
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.
Contacts:
Mike Houston
Lambert & Co.
646-475-2998
mhouston@lambert.com
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SOURCE 1847 Goedeker Inc.