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 (NASDAQ: PFSW) reported a remarkable 88% increase in order fulfillment during Q4 2020, reaching nearly 11 million orders, the highest in its history. The holiday season saw over 4 million orders processed monthly in November and December. Key operational achievements included two new fulfillment centers enhancing capacity and over $3 billion processed in gross merchandise value for the year. These developments position PFSweb strongly amid the ongoing eCommerce demand surge.
LiveArea, a business unit of PFSweb (NASDAQ: PFSW), introduced its innovative retail technology, LiveArea Scan & Go, at CES 2021. This solution allows shoppers to scan product barcodes and use mobile payments, effectively avoiding checkout lines. Retailers can benefit by increasing sales efficiency and enhancing customer experience without heavy hardware investments. The technology integrates seamlessly with prominent eCommerce platforms and aims to attract shoppers requiring contactless payment options while ensuring compliance with social distancing measures.
The PFS survey reveals significant challenges for UK retailers as Brexit approaches, with only 54% fully prepared by December 31, 2020. A substantial 29% have made no preparations, and 79% expect cross-border impacts. Inventory management is inadequate, with only 37% implementing new technologies. Customer service is also at risk, as 55% of retailers can't handle increased return requests. Two-thirds anticipate delivery delays and customer complaints. Retailers must act now, focusing on UK-based operations to maintain customer satisfaction post-Brexit.
PFS, the operations business unit of PFSweb (NASDAQ: PFSW), announced the launch of a new fulfillment distribution center in the Dallas area, now operational for four brands, including Kendra Scott. The expansion aims to meet rising eCommerce demand, especially ahead of the holiday season, with an emphasis on enhancing order capacity and security for fine jewelry. PFS has successfully opened the new center in under 90 days. The Dallas center complements the existing Memphis operation, ensuring reliable delivery for clients.
PFSweb (NASDAQ: PFSW) has successfully launched its improved RetailConnect solution in two stores for an international apparel client, enhancing their holiday operations. This refined system, initially piloted in November 2019, allows for store fulfillment of eCommerce orders and buy online, pick-up in-store (BOPIS) functionality. PFS aims to deploy the solution in more stores by year-end. The EVP, Zach Thomann, noted a shift towards alternative fulfillment strategies due to current pandemic-related challenges, positioning RetailConnect as a timely solution to optimize store inventory usage.
PFSweb (NASDAQ: PFSW) announced that its business unit LiveArea has partnered with German footwear retailer Zumnorde to enhance its digital store using BigCommerce. This collaboration aims to modernize Zumnorde’s eCommerce capabilities by moving away from legacy systems, thereby improving user experience and enabling market expansion across EMEA. The project will allow Zumnorde to connect more effectively with online consumers and invest in innovative commerce solutions to meet evolving customer expectations.
PFSweb, Inc. (NASDAQ: PFSW) reported a record Q3 2020, with total revenues up 13% to $77.1 million, driven by robust eCommerce demand. Service fee equivalent (SFE) revenue surged 21% to $60.4 million, though service fee gross margin declined to 32.1% from 34.9%. The company reported a net loss of $2.8 million, compared to a loss of $1.6 million in Q3 2019. PFSweb raised its 2020 outlook, anticipating mid-teens SFE revenue growth and adjusted EBITDA margin improvement amid ongoing operational investments and heightened fulfillment volumes.
PFSweb announced the launch of FastTrack Commerce in the UK, a rapid-deploy B2B solution aimed at enhancing the implementation of SAP Commerce Cloud. This solution promises to reduce implementation time by up to 40% and cut onboarding time by 50%. FastTrack Commerce includes prebuilt integrations for pricing, inventory, and catalogue management, addressing the needs of today's B2B buyers. According to Paul Lynch, this tool helps B2B companies deliver superior digital experiences quickly and cost-effectively.
PFSweb, Inc. (NASDAQ: PFSW) will hold a conference call on November 6, 2020, at 8:30 a.m. Eastern time to discuss its third-quarter financial results for the period ended September 30, 2020. Management will provide insights followed by a Q&A session. Interested parties can join the call using toll-free and international dial-in numbers provided. A replay will be available post-call until November 20, 2020. PFSweb is known for enhancing the online shopping experience for major brands, operating two business units: LiveArea and PFS.
PFSweb (NASDAQ: PFSW) announced the appointment of Barry Fiske as Senior Vice President of Global Experience and Innovation for LiveArea. Fiske, previously with Publicis Sapient, brings extensive experience in design and customer experience transformation. LiveArea's expansion into the Benelux and DACH regions aims to enhance European presence. The company continues to recruit top talent, positioning itself for growth in client services and innovative solutions, as client demand for integrated commerce and customer experience increases.
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