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Polished.com Inc. - POL STOCK NEWS

Welcome to our dedicated page for Polished.com news (Ticker: POL), a resource for investors and traders seeking the latest updates and insights on Polished.com stock.

Polished.com Inc. (Symbol: POL) is a leading independent retailer of discount appliances, headquartered in St. Louis, Missouri. Established in 1951, the company has grown to become one of the largest retailers in the nation, offering a wide array of kitchen appliances, washers, dryers, furniture, lighting, plumbing fixtures, and mattresses. Founded on family values such as service and integrity, Polished.com maintains a home-town shopping experience while ensuring convenience and affordability for its customers.

Over the years, Polished.com has become a trusted source for high-quality brands, including GE, Whirlpool, Bosch, Frigidaire, and Samsung. The company's user-friendly mobile and online store make it easy for customers to shop from anywhere, offering unique coupons, manufacturer rebates, free shipping, and other deals that can save shoppers hundreds of dollars.

Polished.com has consistently demonstrated strong financial performance and a commitment to customer satisfaction. Recent achievements include significant growth in online sales, expansion of product lines, and strategic partnerships with leading manufacturers. The company's dedication to quality, affordability, and exceptional service continues to drive its success and reputation as a trusted retailer in the home appliance industry.

By leveraging its extensive experience and dedication to customer service, Polished.com aims to provide the same amazing service online that it has offered locally for over 60 years. With a focus on making shopping easy and accessible, Polished.com is well-positioned to meet the needs of modern consumers looking for high-quality home products at competitive prices.

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Polished.com Inc. (NYSE: POL) announced its Annual Meeting of stockholders for January 19, 2023. The company responded to a non-compliance letter from NYSE American regarding its failure to hold this meeting. Polished asserts that it expects compliance to be restored without impacting stock trading. The company focuses on enhancing the shopping experience for home appliances, with services like a 30-day return policy and extended warranties to ensure customer satisfaction.

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Polished.com Inc. (NYSE: POL), a shopping destination for home appliances, announced that its Audit Committee approved the engagement of Sadler, Gibb & Associates, LLC as its independent accounting firm for fiscal years 2021 and 2022. This engagement aims to enhance the company's transparency and financial reporting practices. Polished provides a comprehensive shopping experience, focusing on customer service and product selection while offering a 'Love-It-Or-Return-It' policy. Forward-looking statements in the release highlight potential risks and uncertainties affecting future performance.

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Polished.com Inc. (NYSE: POL) has announced results from an internal investigation revealing financial misconduct by former management, including $800,000 in unauthorized expenses. The company expects to restate Q1 2022 financials, reporting a revenue reduction of $6 million to $8 million, impacting gross margin and income. A new management team has been appointed to implement enhanced controls and systems, while preparations for a new auditor are underway. Despite challenges, management maintains confidence in growth potential in the U.S. appliance market.

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Polished.com Inc. (NYSE: POL) has announced an update regarding the ongoing investigation by its Audit Committee. The committee's independent legal counsel has completed the investigative process, and the Board of Directors is currently evaluating the findings. The Company plans to disclose relevant results promptly. Polished specializes in providing a premium shopping experience for home appliances and has introduced customer-focused policies such as a 30-day return policy and extended warranties to enhance service quality.

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Polished.com Inc. (NYSE: POL) has filed a Form 12b-25 with the SEC due to its inability to timely file its Form 10-Q for Q3 2022, ending September 30, 2022. This follows a previous delay concerning the Q2 2022 filing, which is attributed to an ongoing internal investigation into employment and inventory management practices. The Audit Committee is working with independent counsel to conclude this investigation before the financial statements are filed.

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Polished.com Inc. (NYSE: POL) has provided updates regarding an internal investigation focusing on employment and inventory management practices from 2021 to present. The Audit Committee aims to complete its investigation by year-end. As of September 30, the company reported a cash position of approximately $26.5 million and has not utilized its $40 million revolving credit facility. Polished faces a compliance challenge due to delayed financial filings, as it could not submit its Form 10-Q for Q2 2022 on time. The NYSE has granted an automatic six-month period for compliance.

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Polished.com Inc. has appointed Rick Bunka as interim CEO and Bob Barry as interim CFO, effective immediately. This leadership change follows the resignations of Albert Fouerti, Maria Johnson, and Elie Fouerti. The Board believes Bunka's extensive retail experience and Barry's finance expertise will strengthen the company’s operations. Polished has a track record of profitable growth in the household appliances market, valued at $22 billion, and aims to sustain momentum during this transitional phase.

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Polished.com Inc. (NYSE: POL) announced the engagement of a strategic consulting firm to enhance management and identify growth opportunities. The company confirmed it received a notice from the NYSE regarding non-compliance due to the late filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. Polished aims to regain compliance within the next 12 months. Despite this notice, the company's securities remain listed and trading on the NYSE American. Polished is dedicated to providing a premium shopping experience for home appliances.

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Polished.com Inc. (NYSE: POL) has announced preliminary net sales for Q2 2022, estimating between $145 million and $150 million, though this figure is subject to change. The company continues to show operational momentum, particularly in their B2B segment, securing contracts worth approximately $4.8 million. Updated guidance for FY 2022 forecasts low double-digit growth, but acknowledges challenges from supply chain disruptions and rising costs. Additionally, Polished has filed a Form 12b-25 due to delays in its Q2 earnings release while conducting an internal investigation.

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1847 Goedeker Inc. (NYSE American: GOED) is rebranding to Polished, effective July 22, 2022, alongside a shift to a 'house of brands' model. This strategy aims to increase market share in the B2C and B2B sectors, while retaining customer loyalty to its legacy brands, Appliances Connection and Goedeker’s. The Polished brand is expected to drive significant sales over the next 12-18 months and enhance customer shopping experiences. The goal is to achieve $1 billion in annual sales, reflecting the company's commitment to being an ecommerce leader in household appliances.

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FAQ

What is the market cap of Polished.com (POL)?

The market cap of Polished.com (POL) is approximately 3.8M.

What does Polished.com Inc. (POL) specialize in?

Polished.com Inc. specializes in retailing discount appliances, including kitchen appliances, washers, dryers, furniture, lighting, plumbing fixtures, and mattresses.

When was Polished.com founded?

Polished.com was founded in 1951.

What brands does Polished.com offer?

Polished.com offers high-quality brands such as GE, Whirlpool, Bosch, Frigidaire, and Samsung.

How does Polished.com ensure affordability?

Polished.com ensures affordability through unique coupons, manufacturer rebates, free shipping, and other deals that help customers save money.

Where is Polished.com headquartered?

Polished.com is headquartered in St. Louis, Missouri.

Does Polished.com have an online store?

Yes, Polished.com has a user-friendly online store that is mobile-friendly, allowing customers to shop conveniently from anywhere.

What values is Polished.com founded on?

Polished.com is founded on family values such as service and integrity.

How long has Polished.com been serving customers?

Polished.com has been serving customers for over 60 years, both locally and online.

What recent achievements has Polished.com made?

Recent achievements include significant growth in online sales, expansion of product lines, and strategic partnerships with leading manufacturers.

What is the company's strategy for success?

Polished.com focuses on quality, affordability, and exceptional customer service to drive its success and maintain its reputation in the home appliance industry.

Polished.com Inc.

NYSE:POL

POL Rankings

POL Stock Data

3.84M
7.97M
15.07%
5.65%
2.5%
Specialty Retail
Consumer Cyclical
Link
United States
Brooklyn