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Boxed, Inc. (NYSE: BOXD, BOXD WS) expands its Boxed Market with a new fulfillment center in Elmsford, NY, enhancing rapid grocery delivery services in Westchester County. This facility is larger than the existing Manhattan location and aims to meet increasing customer demands with over 10,000 items available for delivery in under an hour. Following the acquisition of MaxDelivery in 2021, the brand has achieved strong customer loyalty, with 98% of orders from repeat customers. A new location in Brooklyn is set to open on November 1st.
Boxed, Inc. (NYSE: BOXD, BOXD WS) announced it received a notice from the New York Stock Exchange regarding non-compliance with listing standards due to its stock price being below $1.00 over a 30-day trading period. The company plans to rectify this situation within six months, potentially through a reverse stock split, subject to shareholder approval. Despite the notice, Boxed's stock will continue trading on the NYSE while ensuring compliance with other standards.
Boxed, Inc. (NYSE: BOXD, BOXD WS) has partnered with AEON CO LTD to launch its e-commerce software platform, Spresso, in Vietnam, following a previous collaboration in Malaysia. This definitive agreement is aimed at enhancing AEON's e-commerce capabilities in Vietnam, after initial discussions began with a Memorandum of Understanding in July. The launch of Spresso technology is expected in the coming months, marking Boxed's first implementation in a non-English market, thus expanding its international presence.
Boxed, Inc. (NYSE: BOXD, BOXD WS) announced on September 22, 2022, that its Spresso SaaS platform is now Powered by Snowflake, enhancing data analytics capabilities for joint customers. This partnership allows Boxed to provide actionable insights aimed at optimizing business operations, improving customer retention, and refining pricing strategies. The Spresso platform, which focuses on modular analytics and machine learning, aims to help retailers streamline processes and improve profitability. The integration with Snowflake’s Data Cloud will enable better data sharing and predictive analytics for enhanced business outcomes.
Boxed, a leading e-commerce technology company, announced its participation in the Citi Global Technology Conference scheduled for September 7, 2022, at 11:15 a.m. ET. The event will feature a fireside chat hosted by Boxed, allowing audiences to gain insights into its operations and future plans. The session will be available for live streaming and replay on Boxed's Investor Relations website.
Boxed specializes in providing bulk pantry consumables without membership requirements and offers enterprise-level e-commerce technology through its Spresso business, focusing on ESG practices.
Boxed has partnered with TerraCycle to enhance recycling initiatives, enabling customers to recycle packaging waste from any brand of home essentials and personal care products. Sponsored by Procter & Gamble, this collaboration provides a free solution for consumers to properly dispose of hard-to-recycle materials. Participants can mail waste using a prepaid shipping label, ensuring proper disposal and reclamation of materials. This initiative aligns with Boxed's commitment to sustainability, following prior partnerships aimed at reducing environmental impact.
Boxed, Inc. reported a 19.4% year-over-year increase in Gross Merchandise Value (GMV) to $52.7 million and an 11.2% increase in Retail Net Revenue to $43.6 million for Q2 2022. The company aims to achieve Adjusted EBITDA profitability by the end of 2024, focusing on high-margin segments such as B2B and Software & Services. Despite a net loss of $31.8 million, active customer growth and a strong performance in the B2B segment were highlighted. The company has revised its FY 2022 revenue guidance to between $165 and $180 million.
Boxed, Inc. (NYSE: BOXD, BOXD WS) has relaunched its Software & Services division as Spresso, expanding its offerings with data-driven solutions for e-commerce. The platform includes features for storefront, marketplace, B2B services, and more. Notably, Boxed announced a strategic partnership with Jeffers Pet, enhancing its customer service and operational efficiency. The collaboration aims to leverage Spresso’s advanced analytics and machine learning technologies to improve profitability and user experience, showcasing Boxed's potential as an enabler in the e-commerce space.
Boxed, Inc. (NYSE: BOXD, BOXD WS) announced it will report its second quarter results for the period ending June 30, 2022, on August 9, 2022, after market close. A conference call to discuss these results will be held at 4:30 p.m. ET on the same day.
Investors can join the live call by dialing 844-200-6205 (U.S.) or 929-526-1599 (international) and entering code 976677. The webcast will also be available for replay on the Boxed Investor Relations website.
Boxed, Inc. (NYSE: BOXD, BOXD WS) announced the appointment of Tsukasa Ojima to its Board of Directors, effective immediately. Ojima, a seasoned executive from AEON Co. Ltd, brings extensive experience in business development and branding. This appointment comes after Yuki Habu stepped down to fulfill her new role on AEON's Board. Ojima's leadership is expected to enhance Boxed's strategic initiatives, especially following collaborations with AEON to expand digital capabilities in Malaysia and Vietnam.
