1847 Goedeker and Appliances Connection Report March Orders up 106% and 110% Respectively
1847 Goedeker Inc. (NYSE American: GOED) announces significant growth in orders for March. Goedekers' orders surged by 106% year-over-year to $9.5 million, while Appliances Connection's orders increased by 110% to $58.7 million. The Company is on track to finalize the acquisition of Appliances Connection in Q2, supported by infrastructure enhancements that will triple fulfillment capacity. CEO Doug Moore highlighted the strong demand for online appliance shopping, reflecting the Company's commitment to meeting consumer needs.
- Goedekers' orders grew by 106% to $9.5 million in March.
- Appliances Connection's orders rose 110% to $58.7 million in March.
- The acquisition of Appliances Connection is expected to complete in Q2, enhancing market position.
- Fulfillment capacity will triple this month, improving efficiency and order handling.
- 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 continued strong order growth in March.
Key Highlights:
-
Goedekers' orders rose
106% year-over-year to$9.5 million in March, up from$4.6 million in March 2020 -
Appliances Connection's orders rose
110% to$58.7 million in March, up from$27.9 million in March 2020
“We are excited to report strong triple-digit order growth for both Goedekers and Appliances Connection in March,” stated Doug Moore, CEO of Goedekers. “We remain on track to completing the Appliances Connection acquisition in the second quarter, and together with infrastructure improvements, including the tripling of our fulfillment capacity, which comes online this month, we believe we are in a great position to drive meaningful top and bottom-line performance.”
"We are working to meet the continually rising consumer demand for purchasing appliances online," added Albert Fouerti, President of Appliances Connection. "Our teams have done an amazing job adjusting to the rapid growth experienced by both companies over the past year."
About 1847 Goedeker Inc.
1847 Goedeker Inc. 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 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. Appliance Connection provides appliance installation services and appliance removal services. In addition to selling appliances, it also sells furniture, fitness equipment, plumbing fixtures, televisions, outdoor appliances, and patio furniture, as well as commercial appliances for builder and business clients.
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 Company’s annual report on Form 10-K for the year ended December 31, 2020 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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FAQ
What were Goedekers' order numbers in March 2023?
How much did Appliances Connection's orders increase in March?
When will the acquisition of Appliances Connection be finalized?
What is the significance of the fulfillment capacity increase for Goedekers?
What does the strong order growth indicate for Goedekers and Appliances Connection?
