PFSweb Reports Record Fourth Quarter 2020 PFS Fulfillment Volumes

Rhea-AI Summary

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.

Positive

• 88% year-over-year increase in Q4 orders to nearly 11 million.
• Successful deployment of new fulfillment centers, improving operational capacity.
• Processed over $3 billion in gross merchandise value for FY 2020.

Negative

• None.

Q4 Orders Up 88% Year-over-Year; Robust Performance Marks the Largest Quarter of Order Fulfillment in Company History

ALLEN, Texas, Jan. 13, 2021 (GLOBE NEWSWIRE) -- PFSweb, Inc. (NASDAQ: PFSW), a global commerce services company, is reporting record fulfillment volumes in its operations business unit, PFS, during the fourth quarter of 2020.

Q4 2020 Fulfillment Highlights vs. Q4 2019

• Total orders fulfilled increased 88% to nearly 11 million orders.
• Customer orders processed during November and December 2020 exceeded four million orders each month.
• Orders fulfilled during Cyber Week – the peak holiday fulfillment period from Black Friday to Cyber Thursday – increased 71% to over two million orders.
  

“Our strong Q4 and holiday performance was driven by our PFS team’s deep commitment to serving our clients during this peak period for their businesses,” said Mike Willoughby, CEO of PFSweb. “PFS has performed at a high level for its clients throughout 2020, with pandemic-related stay-at-home mandates accelerating eCommerce demand trends throughout the year. I am extremely proud of our team’s hard work to accommodate these increased volumes while preserving our high quality of service and differentiated direct-to-consumer offerings.”

Q4 and FY 2020 Operational Highlights

• In less than two full months of operations, PFS’ two new fulfillment centers in Dallas and Belgium meaningfully expanded fulfillment capacity for key clients.
• Remote contact center operations continued to run smoothly, with less attrition than in previous years, resulting in over one million customer contacts answered in Q4 2020.
• Successful client holiday deployments for RetailConnect and CloudPick set the stage for more expansive roll-outs in 2021:
  • PFS’ first RetailConnect production client launched in three stores during the holiday season, shipping approximately five thousand orders while improving store fulfillment productivity by approximately 30%.
  • Deployment of CloudPick-based fulfillment technology in a client’s German distribution center for the holiday season accounted for approximately 10% of the client’s EU order volume from early November through the end of 2020.
• Processed over $3 billion in gross merchandise value through fulfillment activity, and an additional $400 million for order-to-cash platform only clients, in the full year 2020.
• Payment transaction value processed through PFS’ financial services increased 51% to $1.4 billion in the full year 2020.
  

Willoughby continued: “The strategic investments we have made to expand our fulfillment center footprint and capacity – as well as our distribution and contact center personnel – have allowed us to address elevated holiday order volumes with optimal speed and efficiency. In addition, our select RetailConnect and CloudPick holiday deployments have helped expand the breadth of our fulfillment enablement with ‘asset-light’ opportunities. These improvements not only address our clients’ evolving retail needs, but also support PFSweb’s long-term growth strategy. As we continue to operate in a heightened eCommerce demand environment, we remain dedicated to facilitating safe and exceptional customer experiences across all of the brands we serve.”

About PFSweb, Inc.
PFSweb (NASDAQ: PFSW) is a global commerce services company that manages the online customer shopping experience on behalf of major branded manufacturers and retailers. Across two business units – LiveArea for data-driven marketing and omnichannel experience design through technology selection, platform implementation and orchestrated services, and PFS for order fulfillment, contact center, payment processing/fraud management, and order management services – they provide solutions to a broad range of Fortune 500^® companies and household brand names such as Procter & Gamble, L'Oréal USA, ASICS, Pandora, Ralph Lauren, Shiseido Americas, the United States Mint, and many more. PFSweb enables these brands to provide a more convenient and brand-centric online shopping experience through both traditional and online business channels. The company is headquartered in Allen, TX with additional locations around the globe. For more information, visit www.pfsweb.com.

Investor Relations:
Sean Mansouri, CFA
Gateway Investor Relations
1-949-574-3860
PFSW@gatewayir.com

FAQ

What were PFSweb's Q4 2020 order fulfillment results?

PFSweb reported an 88% increase in order fulfillment for Q4 2020, totaling nearly 11 million orders.

How did PFSweb perform during the holiday season of 2020?

During the holiday season, PFSweb processed over 4 million orders in both November and December 2020.

What operational improvements did PFSweb achieve in 2020?

PFSweb opened two new fulfillment centers in Dallas and Belgium, enhancing their fulfillment capacity.

What was the gross merchandise value processed by PFSweb in 2020?

PFSweb processed over $3 billion in gross merchandise value through its fulfillment activities in 2020.

What is PFSweb's stock symbol?

PFSweb trades under the stock symbol PFSW.