1847 Goedeker and Appliances Connection Report Strong Start to Q2 with Combined April Written Orders Up 100% to $82.9M and April Revenues Up 140% to $45.2M
1847 Goedeker Inc. (GOED) reported impressive growth in April, with written orders up 85% year-over-year to $12.2 million, and Appliances Connection's written orders surging 103% to $70.7 million. Combined, they achieved a pro forma order growth of 100% to $82.9 million. Revenues also soared, with Goedekers' revenue increasing 56% to $5.6 million and Appliances Connection's rising 161% to $39.6 million. The company anticipates a billion-dollar business, driven by a new fulfillment center and strong market demand.
- April written orders increased 85% year-over-year to $12.2 million.
- Appliances Connection's written orders surged 103% to $70.7 million.
- Combined pro forma written orders rose 100% to $82.9 million.
- Goedekers' revenue jumped 56% to $5.6 million in April.
- Appliances Connection's revenue soared 161% to $39.6 million.
- Pro forma combined revenue rose 140% to $45.2 million.
- The company has established a $500 million annual revenue run rate.
- The new fulfillment center triples operational capacity, enhancing logistics.
- None.
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 US, are pleased to report continued strong order and revenue growth in April.
April Written Orders:
-
Goedekers’ written orders for April rose
85% year-over-year to$12.2 million -
Appliances Connection’s written orders for April rose
103% to$70.7 million -
On a pro forma combined basis, written orders for April rose
100% to$82.9 million
April Revenues:
-
Goedekers’ April revenue rose
56% year-over-year to$5.6 million -
Appliances Connection’s April revenue rose
161% to$39.6 million -
On a pro forma combined basis, April revenue rose
140% to$45.2 million
“We are thrilled to report an exceptional start to the second quarter, with our combined operations surpassing a
“With the acquisition now complete, we have begun the process of creating a better structured operation to efficiently capitalize on the rapidly growing direct-to-consumer, or DTC, market for online appliance purchases,” Albert Fouerti, President of Goedekers. “I believe we are now in a great position to accelerate market share growth, making a formidable force in the consumer appliances market.”
The US household appliance market, estimated at
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.
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FAQ
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