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.
PFSweb reported strong results for 2021 and positive momentum in 2022, reiterating its guidance for SFE revenue growth of 5% to 10%. Total revenues for 2021 increased by 2% to $277.3 million, while SFE revenue rose 7% to $187.7 million. Net loss from continuing operations in 2021 was $13.6 million, up from $6.2 million in 2020. The company aims to optimize its business structure and is currently in a strategic review process. PFSweb regained compliance with Nasdaq after filing its 2021 10-K on May 9, 2022.
PFSweb (NASDAQ: PFSW) will hold a conference call on May 10, 2022, at 8:30 a.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2021. The results will be announced in a press release prior to the call. Interested parties can participate via toll-free and international numbers provided. A replay of the call will be available after the event until May 31, 2022. PFSweb specializes in eCommerce order fulfillment for various industries, supporting well-known retail brands.
PFSweb, Inc. (NASDAQ: PFSW) received a notice from Nasdaq on March 18, 2022, indicating non-compliance with periodic filing requirements due to the late submission of its Annual Report on Form 10-K for 2021, originally due by March 16, 2022. This notice does not impact the trading or listing of PFSW shares immediately. The Company has until May 17, 2022, to submit a compliance plan to Nasdaq, which may grant an extension for filing the 10-K until September 12, 2022. PFSweb aims to file the 10-K by late April or early May 2022 and its 10-Q by mid-June 2022.
PFS (NASDAQ: PFSW) reported Q3 2021 results, highlighting a service fee revenue increase to $44.3 million compared to $42.4 million in Q3 2020. However, the company incurred a net loss of $6.8 million or $0.32 per share. PFS regained compliance with NASDAQ after timely filing its quarterly reports, which were delayed due to complexities from the LiveArea sale for approximately $250 million. The company aims for a 5-10% revenue growth in 2022, fueled by a strong sales pipeline and ongoing strategic review.
PFSweb (NASDAQ: PFSW) announced an update regarding its hearing before the Nasdaq Hearings Panel following a delisting notice on February 8, 2022, due to delayed filing of its Form 10-Q for Q3 2021. The hearing is scheduled for March 17, 2022, and PFS has received an extended stay of the delisting until that date. The company's filing delay is attributed to the complexities stemming from the sale of its LiveArea division, not due to prior accounting issues. PFS is preparing to present its compliance plan at the upcoming hearing.
PFS (NASDAQ: PFSW), an eCommerce order fulfillment provider, is expanding its operations with a second fulfillment center in North Las Vegas, NV, bringing its North American total to eight facilities. This new center aims to meet growing client demand and is expected to create approximately 300 jobs by the end of 2022. The facility, opening in Q2 2022, will enhance PFS's multi-node fulfillment strategy to improve shipping times and client services.
PFS (NASDAQ: PFSW) received a notice from Nasdaq on February 8, 2022, indicating potential delisting due to non-compliance with filing requirements. The company must request a hearing by February 15, 2022, to stay the delisting process. The delay in filing its Form 10-Q for the period ended September 30, 2021, is attributed to complex tax implications related to the sale of its LiveArea business unit, not to accounting issues. The company plans to present a compliance plan at the hearing to maintain its listing on the Nasdaq Capital Market.
PFS (NASDAQ: PFSW) reported Q2 2021 financial results, detailing challenges in filing Q3 due to complexities from the LiveArea sale. Core PFS business showed strong revenue growth, with total service fee revenue at $43 million. PFS SFE revenue declined to approximately $39.9 million, while net loss was $4.5 million. Despite filing delays, the company expects revenue growth of 5-10% for 2022, driven by strong bookings and a robust sales pipeline. PFS is conducting a strategic review to optimize its business structure and maximize shareholder value.
PFS (NASDAQ: PFSW), a leading eCommerce order fulfillment provider, will host a business and financial update conference call on February 7, 2022, at 5:00 p.m. Eastern Time. Management will discuss the company's performance followed by a Q&A session. Interested parties can join the call via toll-free and international dial-in numbers. A replay will be available after the call until February 21, 2022. PFS specializes in DTC and B2B retail services, supporting brands such as L’Oréal and Pandora, with a strong focus on customer care and order management.
PFS (NASDAQ:PFSW), a leader in eCommerce order fulfillment, has promoted Zach Thomann to Chief Operating Officer. Thomann, who has been with the company since 2003, will oversee global management across various business activities, including order fulfillment and client financial services. CEO Mike Willoughby praised Thomann's leadership, which contributed to two years of record order fulfillment and the expansion of operations in the U.S., Belgium, and Canada. PFS aims to maintain high client satisfaction and operational performance as it enters 2022.
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