SFLMaven Shareholder Update: All Core Metrics Showing Strong Growth Ahead of Holiday Shopping Season
SFLMaven Corp. (OTC PINK: SFLM) reported a robust 33.9% year-over-year increase in gross revenues, totaling $7.76 million. The company also noted a 33.2% rise in net sales, with 9,406 products sold. This growth is supported by the upcoming holiday season and a unique position in the luxury goods market, free from supply chain issues. SFLMaven plans to enhance its Collectibles Marketplace, focusing on NFTs and other collectibles. Management anticipates benefiting from challenges faced by competitors in inventory management as demand spikes.
- Gross revenues surged to $7.76 million, up 33.9% year-over-year.
- Net sales reached $6.97 million, reflecting a 33.2% increase compared to last year.
- Sold 9,406 products, marking a 31.5% increase in units sold.
- Invulnerable to supply chain issues that affect competitors, potentially gaining market share.
- Developing a new Collectibles Marketplace, enhancing growth opportunities.
- None.
Volume and Revs Up Over
FORT LAUDERDALE, FL, Oct. 27, 2021 (GLOBE NEWSWIRE) -- SFLMaven Corp. (OTC PINK: SFLM), ("SFLMaven" or the "Company"), a leading provider of high-end luxury goods, is pleased to provide an operational and performance update ahead of the Company’s seasonally strongest period of the year.
“2021 has shown broad-based growth in every core metric we track,” noted Joseph Ladin, CEO of SFLMaven. “And this is a highly seasonal business, which suggests we are extremely well positioned as we head into the holiday shopping season with all engines firing. In addition, given that we do no manufacturing, we are not in any way subject to the global supply chain crisis plaguing so many retailers this year. In fact, we may actually see a boost from diverted demand as primary dealers face potential inventory shortfalls.”
Unaudited Year-to-date performance data as of October 25, 2021
- Gross revenues of
$7.76 million , up33.9% on year-over-year basis - Net Sales of
$6.97 million , up33.2% on year-over-year basis - 9,406 products sold, up
31.5% on year-over-year basis - Avg Sales Price of
$825.35 per item in 2021, up2% on year-over-year basis
Management notes that the final two months of the year are historically the strongest for SFLMaven and the broader high-end luxury goods marketplace.
Due to continuing global supply chain constraints, the Company stands to benefit from inventory building problems faced by competing luxury goods dealers that manufacture products and rely on logistics and supply chain factors as holiday demand spikes later this quarter. This could further bolster growth in the Company’s primary revenue-producing segment.
SFLMaven also continues to develop its new Collectibles Marketplace strategy. As noted in its communications in September, the Company has launched a new segment that focuses on the thriving collectibles market, including non-fungible tokens (NFTs), baseball cards, coins, comic books, handbags, sneakers, and other collectible memorabilia.
The first phase of this launch is focused on developing a unique inventory of digital artwork capable of driving value in the NFT marketplace. To that end, the Company has already signed two very talented digital artists, Larry Calabrese and SubtleCodes. Management looks forward to providing further updates on exciting next steps in this process very soon.
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About SFLMaven
SFLMaven Corp. (OTC PINK: SFLM), is a premium provider of high-end luxury goods to discerning clientele globally. SFLMaven has driven over
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.
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info@sflmaven.com
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FAQ
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