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 (NASDAQ: PFSW), a leading eCommerce order fulfillment provider, reported a strong performance in FY 2021 with record fulfillment volumes. The company fulfilled over 29 million orders, a 6% increase from FY 2020, processing over $3.2 billion in gross merchandise value. Significant operational highlights include shipping nearly 109 million units and opening a new fulfillment center in Las Vegas. PFS set a single-day record of over 387,000 orders fulfilled, marking an 18% increase compared to the previous record. The company plans to expand its fulfillment center footprint in 2022.
PFS (NASDAQ: PFSW) has launched a new UK order fulfillment operation for On, a performance running brand. To address rapid growth, On required a DTC specialist to enhance order delivery speed in the UK. The partnership aims to alleviate supply chain challenges, including Brexit-related issues. PFS is now managing warehouse operations, inventory control, and returns from its Southampton center. This collaboration started in July 2021, and both companies expect to improve eCommerce delivery times significantly.
PFSweb, Inc. (NASDAQ: PFSW), a global commerce services company, has received approval from NASDAQ to implement its plan for regaining compliance with Nasdaq Listing Rule 5250(c)(1). This follows delays in filing the Form 10-Q for the periods ending June 30, 2021, and September 30, 2021, due to additional requirements related to the divestiture of its LiveArea business. The company has until February 7, 2022, to submit both overdue filings.
PFSweb, Inc. (NASDAQ: PFSW) announced delays in filing its Form 10-Q for the periods ended June 30 and September 30, 2021, attributed to additional time required for SEC compliance related to its LiveArea divestiture. The company received a notice from NASDAQ regarding ongoing non-compliance with filing requirements but submitted a plan to regain compliance, expecting to file both reports by February 7, 2022. PFSweb maintains its 2021 service fee revenue growth target of 5% to 10%, with a pro forma adjusted EBITDA margin expected between 8% and 10%.
PFSweb (NASDAQ: PFSW) has launched a new U.S. order fulfillment operation for Drunk Elephant, part of the Shiseido Americas brand portfolio. This expanded service includes warehouse management, inventory control, and returns management. Following its initial launch in Dallas, PFS plans to evolve to a multi-node operation to enhance order fulfillment efficiency. The collaboration aims to address the growing eCommerce demand, reflecting PFS's robust execution since partnering with Shiseido in 2019.
PFSweb, Inc. (NASDAQ: PFSW) announced a delay in filing its Form 10-Q due to the complexities related to its LiveArea divestiture, a process completed on August 26, 2021. The company aims to file the 10-Q by November 9, 2021, as it fulfills SEC reporting and accounting requirements. PFSweb is a global commerce services provider, specializing in order fulfillment for eCommerce and collaborating with well-known brands across various sectors.
The latest survey by PFS, part of PFSweb (NASDAQ: PFSW), reveals that 48% of consumers in the UK and US are increasingly conscious of their environmental impact due to COVID-19. However, price and convenience hinder sustainable purchasing. Key findings include 35% citing higher costs as the main barrier to eco-friendly shopping, while 55% prioritize convenience over sustainability. More than half (51%) consider fast delivery crucial. Retailers are urged to develop cost-effective, sustainable options to align with consumer expectations and enhance loyalty.
PFSweb, Inc. (NASDAQ: PFSW) announced the completion of the sale of its LiveArea business unit to Merkle, Inc. for $250 million. This transaction is expected to yield net proceeds of approximately $185 million to $200 million after taxes and expenses, which PFSweb will use to fully pay down senior financing facilities. The divestiture will be reported as a discontinued operation in the upcoming second-quarter earnings report, with a filing deadline of October 11, 2021. The company is also exploring strategic alternatives for its remaining business to optimize shareholder value.
PFSweb, Inc. (NASDAQ: PFSW) announced on August 13, 2021, that it received a compliance notice from Nasdaq due to the late filing of its Form 10-Q for the period ending June 30, 2021. The filing was due on August 9, 2021. Despite this, there is no immediate effect on the company’s shares. PFSweb has until October 11, 2021, to submit a plan to regain compliance. If accepted, the company may have until February 7, 2022, to file the overdue report. The company intends to submit their compliance plan by the deadline.
PFSweb's LiveArea unit has formed a strategic partnership with Syte, a leader in visual AI-powered product discovery for eCommerce. This collaboration enhances LiveArea's service offering by integrating Syte's advanced product discovery solutions, potentially increasing online conversion rates by an average of 177%. The partnership includes services like NXT Intelligence™, Product Innovation, and Performance Marketing. Syte's capabilities include visual discovery tools, hyper-personalization, and searchandising, which aim to create engaging, tailored shopping experiences for consumers.
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