SFLMaven Announces Strong Sequential Growth in Unaudited Gross Sales During June 2022

Rhea-AI Summary

SFLMaven Corp. reported gross sales of $1.29 million for June 2022, a month-over-month increase of nearly 50%. This growth was driven by a robust auction performance, contributing to a projected annualized pace exceeding $15 million.

Despite broader economic challenges and a notable decline in consumer spending, the company's model demonstrated resilience. SFLMaven's unique positioning in the luxury goods market appears to bolster its growth trajectory, with auctions driving a 17% increase in sales per auction.

Positive

• Gross sales reached $1.29 million in June 2022, a 46% increase month-over-month.
• Projected annualized sales pace is over $15 million.
• Auctions contributed to a 17% increase in sales per auction.
• Company shows resilience amid economic downturns, indicating a strong business model.

Negative

• None.

Company Sees $1.29M in Gross Sales in June, Up Nearly 50% Month-Over-Month

FORT LAUDERDALE, FL, July 05, 2022 (GLOBE NEWSWIRE) -- SFLMaven Corp. (OTC Pink: SFLM), ("SFLMaven" or the "Company") (www.sflmaven.com), a leading provider of high-end luxury goods, is excited to announce unaudited performance data from the month of June 2022, which continued to show strong growth in gross sales as the Company continues to perform at a record pace despite economic headwinds.

“June was another very strong month for SFLMaven even as recent data on the economy showed a precipitous slowdown in consumer spending,” noted Joseph Ladin, CEO of SFLMaven. “We saw huge sequential monthly growth, including a strong auction result to end the month. We continue to set a potential record pace for the year and look forward to our results in the second half of the year being augmented by sales of digital goods now that our Metaverse store is fully operational.”

SFLMaven saw gross sales of $1.29 million for the month of June 2022 (unaudited), setting an annualized pace topping $15 million. That represents 46% growth on a sequential monthly basis over results logged in May 2022.

Auctions during the month of June 2022 drove sequential monthly gross sales growth of 17% on a per-auction basis. The Company saw just shy of $295k in sales during the final week of the month.

Management believes these results demonstrate the resilience of the Company’s model and of the spending power of its target market given that total spending slowed in June in the US economy and consumer confidence fell to its lowest levels in over a year as recession talk picks up.

“It’s really a great sign to see such tremendous growth during a month when other areas of the economy seem to be hitting a wall,” added Ladin. “Demonstrating our resilience during downturns has implications for our ability to attract capital and maintain a strong balance sheet and growth outlook independent of the economic cycle.”

Follow SFLMaven on social media:

Twitter: @sflmaven
Instagram: sflmaven

About SFLMaven

SFLMaven Corp. (OTC Pink: SFLM) is a premium provider of high-end luxury goods to a global base of discerning patrons. Famous for its Thursday Night Auction events on its top-rated eBay store, SFLMaven has driven over $140 million in sales since inception, earning more than 100k positive reviews along the way.

For more information, please visit the Company's website at www.sflmaven.com.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements, including information about management's view of SFLMaven Corp.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'plans,' 'anticipates,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of SFLMaven, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on SFLMaven's future results. The forward-looking statements included in this press release are made only as of the date hereof. SFLMaven cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SFLMaven undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by SFLMaven.

SOURCE: SFLMaven Corp.

Corporate Contact
info@sflmaven.com

Public Relations
EDM Media, LLC
https://edm.media

FAQ

What were SFLMaven's gross sales in June 2022?

SFLMaven reported gross sales of $1.29 million in June 2022.

How much did SFLMaven's sales grow compared to May 2022?

SFLMaven experienced a 46% increase in gross sales compared to May 2022.

What is the projected annualized sales pace for SFLMaven?

The projected annualized sales pace for SFLMaven is over $15 million.

What contributed to the sales growth for SFLMaven in June 2022?

Sales growth was driven by strong auction results, which increased by 17% on a per-auction basis.

What does the June 2022 sales report indicate about SFLMaven's business model?

The report indicates that SFLMaven's business model is resilient, showing growth despite broader economic challenges.