Envela Corporation - ELA STOCK NEWS

Four Nines, an innovative retail concept from Envela , announces the grand opening of two new stores in San Antonio, Texas on October 15, 2024. Located at 8597 Blanco Road and 17641 Bulverde Road, these stores offer premium products at accessible prices, focusing on sustainability and value.

The Blanco store spans 5,000 square feet, while the Bulverde store covers 4,300 square feet. Four Nines currently operates 12 units across three states, with plans for expansion in 2024. To celebrate the openings, the first 50 customers making a minimum purchase of $30 on October 18th and 19th will receive a commemorative 9999 silver coin.

Both stores will be open Monday through Saturday from 10 a.m. to 6 p.m., offering a unique shopping experience for quality jewelry at affordable prices.

Envela (NYSE American:ELA), a leading re-commerce company, has announced its participation in the Lake Street Capital Markets 8th Annual Best Ideas Growth "Big8" Conference. The event will take place on September 12, 2024, at The Yale Club in New York City.

Management, including leaders from the consumer division, will conduct one-on-one meetings with institutional investors. They will discuss Envela's brands: Four Nines™, Bijoux Exchange™, and Bullion Express™. The company will also highlight its recent entry into new markets and the expansion of its footprint in Texas as part of its retail growth strategy.

Interested conference attendees can schedule meetings through their Lake Street representative or by contacting the conference organizers directly.

Envela (NYSE American:ELA) reported its Q2 2024 financial results, with quarterly revenue of $45.3 million and earnings per diluted share of $0.06. The Commercial Division achieved a record revenue of $13.3 million, up 16.2% year-over-year. The Consumer Division faced challenges due to new store costs and softness in bullion demand. Overall, gross margin improved to 25.1% from 21.1% in the prior-year quarter. Operating income decreased slightly to $1.9 million. The company's cash position stood at $17.3 million, with total stockholders' equity growing to $50.2 million. Envela continued its share repurchase program, buying back 152,089 shares for $715,000 during the quarter.

Envela (NYSE American: ELA), a company listed on the NYSE American exchange, has announced its plans to release its financial results for the second quarter of 2024. The report is scheduled to be published after the market closes on Wednesday, August 7, 2024. This announcement provides investors and analysts with a specific date to anticipate the company's latest financial performance data, which could potentially impact the stock's valuation and trading activity.

Envela (NYSE American: ELA) has opened its new Four Nines™ flagship store in Phoenix, Arizona. The 6,000 square-foot store, located at 6030 N 19th Avenue, will operate from Monday to Saturday, 10 AM to 6 PM. Emphasizing sustainability and the circular economy, the store offers an expanded range of products and services for both buyers and sellers. Allison DeStefano, Head of Envela's Consumer Division, highlighted the company's focus on delivering exceptional customer experiences. Positioned in a high visibility area, the store is strategically located near major thoroughfares such as the Black Canyon Freeway (I-17) and Highway 51, making it accessible to a wider customer base.

Envela (NYSE: ELA) has launched its first Four Nines retail store in Gilbert, Arizona, focusing on luxury goods. This expansion aims to make high-quality, authenticated luxury items more accessible. The store features branded and vintage jewelry, diamonds, engagement rings, bullion, coins, luxury timepieces, and accessories from top brands like Louis Vuitton, Gucci, and Rolex. Additionally, services include jewelry and watch repair, and Bijoux Exchange for selling precious items. The Gilbert store serves as a test for broader brand expansion across the U.S.

Envela (NYSE American:ELA) has announced the launch of Bijoux Exchange, a new venture specializing in the purchase of pre-owned luxury items. Bijoux Exchange boutiques will operate as 'stores within a store' inside select Envela locations. According to Allison DeStefano, Head of Envela's Consumer Division, the initiative aims to offer a transparent and pressure-free environment for clients to sell high-value items and receive immediate payment. This move aligns with Envela's strategy of being a trusted information resource and providing liquidity to clients.

Envela (NYSE American: ELA) reported first-quarter 2024 financial results with quarterly revenue of $39.9 million and earnings per diluted share of $0.07. Despite challenges in the precious-metal bullion market, Envela remains committed to its expansion plans, focusing on store growth and partnerships. The Consumer Division saw revenue decrease by 23.1%, while the Commercial Division experienced a revenue decline as well. Envela's cash position improved, and the company continued its share repurchase program.

Envela (NYSE American: ELA) will announce its first-quarter 2024 financial results on May 8, 2024, after the market closes. Investors are eagerly awaiting the report to gauge the company's performance and financial health.