1847 Goedeker and Appliances Connection Continue Strong Growth with Record Orders Up 176% and 114% Respectively in January 2021
1847 Goedeker Inc. (GOED) reports record orders for January 2021, indicating a major growth trajectory. Orders for Goedeker surged by 176% year-over-year, reaching $11.0 million, while Appliances Connection’s orders increased 114% to $43.4 million. These results were achieved without a rise in marketing spending, showcasing consumer preference shifts towards direct-to-consumer models. The company's leadership anticipates that this trend will continue post-acquisition.
- Goedeker's orders increased 176% year-over-year to $11.0 million in January.
- Appliances Connection's orders rose 114% to $43.4 million in January.
- Record triple-digit growth achieved without increasing marketing spend.
- None.
1847 Goedeker Inc. (NYSE American: GOED) (“Goedekers” or the “Company”), a one-stop e-commerce destination for appliances and furniture, and Appliances Connection, a leading appliance retailer under a definitive agreement to be acquired by the Company, are pleased to report record orders during January.
Key Highlights:
-
Goedekers orders rose
176% year-over-year to$11.0 million in January, up from$4.0 million in January 2020 -
Appliances Connection’s orders rose
114% to$43.4 million in January up from$20.3 million in January 2020
“Without any material increase in our marketing spend, both Goedekers and Appliances Connection each had record triple digit growth in orders in January, which further establishes the ongoing transition in consumer preference for the direct-to-consumer appliance retail operating model.” said Doug Moore, CEO of 1847 Goedeker. “I believe this trend will continue in the months ahead, after the companies combine into one business unit.”
Albert Fouerti, President of Appliances Connection, added, “Each month we are encouraged by the continued growth in customers and customer engagement at both of our companies on our websites and on phone calls with the sales experts. We are becoming America’s best choice for premium and luxury appliances.”
About 1847 Goedeker Inc.
1847 Goedeker is an industry leading e-commerce destination for appliances, furniture, and home goods. Since its founding in 1951, Goedekers has transformed from a local brick and mortar operation serving the St. Louis metro area to a respected nationwide omnichannel retailer that offers one-stop shopping for national and global brands. While the Company maintains its St. Louis showroom, over
About Appliances Connection
Founded in 2000, Appliances Connection is one of the leading retailers of household appliances with a 200,000 square foot warehouse in Hamilton, NJ and a 23,000 square foot showroom in Brooklyn, New York. Appliances Connection carries many premium name brands, including Bosch, Cafe, Frigidaire Pro, Whirlpool, LG, and Samsung, in addition to major luxury brands such as Miele, Thermador, La Cornue, Dacor, Ilve, Wolf, Jenn-Air and Viking. Appliances Connection provides appliance installation and removal services to their customers as well as commercial products for non-residential customers.
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” in the final prospectus related to the public offering filed 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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