Welcome to our dedicated page for PFSweb news (Ticker: PFSW), a resource for investors and traders seeking the latest updates and insights on PFSweb stock.
PFSweb, Inc. (NASDAQ: PFSW) is a leading provider in the eCommerce order fulfillment industry. Headquartered in Irving, TX, PFSweb facilitates comprehensive commerce operations, including transaction management, order fulfillment, and customer satisfaction for major brands and retailers. The company operates through its business unit, PFS, which is renowned for its personalized services and scalable solutions tailored for Direct-to-Consumer (DTC) and Business-to-Business (B2B) retail brands.
Specializing in sectors such as health & beauty, fashion & apparel, jewelry, and consumer packaged goods, PFSweb has established a robust presence in the market over the past two decades. The company supports its clients with customized pick/pack/ship services, ensuring brand ethos is maintained with each order. Their proven order management platform, augmented by high-touch customer care, enhances operational efficiency and customer satisfaction.
PFSweb has partnered with some of the world's most recognizable brands, including L’Oréal USA, Champion, Pandora, Shiseido Americas, Kendra Scott, and the United States Mint. These strategic partnerships underscore the company's capability to handle large-scale, brand-centric operations.
In recent news, PFSweb has entered into an Agreement and Plan of Merger with GXO Logistics, Inc. (NYSE: GXO), the world's largest pure-play contract logistics provider, valuing PFSweb at approximately $181 million. The transaction, expected to close in the fourth quarter of 2023, will see PFSweb become a division within GXO, enhancing its logistical capabilities and market reach.
Financially, PFSweb reported results for the second quarter ended June 30, 2023, and continues to demonstrate solid performance. The company’s ongoing projects and future endeavors are set to further solidify its position as a leader in the eCommerce fulfillment industry. For more detailed information, visit www.pfscommerce.com or ir.pfsweb.com.
PFS, a leading eCommerce order fulfillment provider and unit of PFSweb, has been chosen by The All England Lawn Tennis Club to manage global order fulfillment for the Wimbledon Shop. The collaboration, which went live in May 2022, aims to meet the rising international demand for official merchandise associated with this iconic event. eCommerce Manager Richard Wilson praised PFS for its quality fulfillment capabilities that effectively scale during peak demand periods. PFS’s COO emphasized the importance of supporting Wimbledon’s esteemed brand in the eCommerce sector.
PFSweb reported a 13% increase in PFS Operations service fee equivalent revenue year-over-year, reaching $45.3 million. Total revenues grew by 6% to $64.6 million. Despite a net loss of $4.5 million, adjusted EBITDA improved to $(0.4) million compared to $(1.7) million in the previous year. The company recorded 10 new bookings worth an estimated $11 million in annual contract value. PFSweb maintains its 2022 SFE revenue growth outlook of 5% to 10% and continues to explore strategic alternatives.
PFSweb, Inc. (NASDAQ: PFSW) will host a conference call on August 8, 2022, at 5:00 p.m. Eastern time to discuss its financial results for Q2 2022, ending June 30. A press release detailing the results will be issued prior to the call, which will also include a Q&A session. Participants can join via toll-free and international dial-in numbers provided. The call will be available for replay until August 22, 2022. PFSweb specializes in eCommerce order fulfillment and offers scalable solutions for branded retail companies.
PFS announced a partnership with Vimaan to integrate innovative drone technology for real-time inventory tracking at its Memphis warehouse. This technology will automate inventory tracking, capturing up to 1,500 locations per hour and improving accuracy and safety in operations. The solution will enhance inventory visibility, enabling immediate adjustments to improve accuracy for clients. The deployment is initially at a single location, with plans for a broader rollout in 2023. This move aligns with PFS's ongoing innovation strategy to boost eCommerce fulfillment efficiency.
PFS, a leading eCommerce order fulfillment provider and part of PFSweb, has launched a new fulfillment operation in the U.S. for Blenders Eyewear. This partnership aims to enhance Blenders' eCommerce capabilities as the brand experiences significant growth. PFS will manage warehouse operations, inventory, and order fulfillment through its Memphis facility. The collaboration supports direct-to-consumer and B2B channels, aiming to improve efficiency with advanced fulfillment technologies. This operation began in October 2021, reflecting PFS's commitment to scalable, quality service for its clients.
PFS, a leading eCommerce order fulfillment provider and unit of PFSweb (NASDAQ: PFSW), has initiated a new U.S. order fulfillment operation for Tubby Todd. Founded in 2014, Tubby Todd specializes in body care products for babies with sensitive skin. PFS implemented the fulfillment operations at its Memphis campus within six weeks to meet Tubby Todd's urgent requirements. PFS will provide core services such as kitting, picking, packing, and shipping, along with freight management. Both companies express mutual confidence in the future of their partnership.
PFSweb, Inc. (NASDAQ: PFSW) has been added to the Russell 3000® Index, effective June 27, 2022. This inclusion is part of the annual reconstitution process that ranks the largest U.S. stocks by market capitalization. CEO Mike Willoughby noted that this milestone reflects the company's strategy to enhance shareholder value, especially following the sale of its LiveArea business. PFSweb aims to expand its fulfillment capabilities within the eCommerce sector. The Russell 3000® Index represents a significant benchmark, with $12 trillion in assets linked to it.
PFSweb reported a 10% increase in total revenues to $66.5 million for Q1 2022, driven by new clients and strong fulfillment demand. However, the company incurred a net loss of $7.5 million, largely due to higher restructuring costs from the sale of its LiveArea business. While the PFS Operations service fee gross margin declined from 25% to 20%, PFSweb expects to maintain compliance with SEC and Nasdaq requirements. The company is optimistic about achieving its 2022 financial outlook, targeting 5% to 10% annual revenue growth, with a focus on operational efficiency.
PFSweb, Inc. (NASDAQ: PFSW) will discuss its financial results for Q1 2022 on a conference call scheduled for June 13, 2022, at 5:00 p.m. Eastern time. The results will be announced in a press release prior to the call, which will be hosted by company management and includes a Q&A session. Interested participants can dial in using toll-free numbers provided. A replay will be available until June 27, 2022. PFSweb specializes in eCommerce order fulfillment for various industries, supporting brands like L’Oréal and Pandora.
PFSweb, a global commerce services company, received a notice from Nasdaq on May 12, 2022, indicating non-compliance with periodic filing requirements due to the delay in submitting its 2022 Q1 10-Q report. The Company has until July 11, 2022, to submit a compliance plan, which, if accepted, could extend the deadline to November 8, 2022. Despite this setback, PFSweb intends to file the report by mid-June 2022 and remains committed to maintaining compliance with SEC and Nasdaq requirements.
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