1847 Goedeker and Appliances Connection Continue Strong Growth with Record Orders Up 176% and 114% Respectively in January 2021
February 10 2021 - 6:55AM
Business Wire
1847 Goedeker Inc. (NYSE American: GOED) (“Goedekers” or the
“Company”), a one-stop e-commerce destination for appliances and
furniture, and Appliances Connection, a leading appliance retailer
under a definitive agreement to be acquired by the Company, are
pleased to report record orders during January.
Key Highlights:
- Goedekers orders rose 176% year-over-year to $11.0 million in
January, up from $4.0 million in January 2020
- Appliances Connection’s orders rose 114% to $43.4 million in
January up from $20.3 million in January 2020
“Without any material increase in our marketing spend, both
Goedekers and Appliances Connection each had record triple digit
growth in orders in January, which further establishes the ongoing
transition in consumer preference for the direct-to-consumer
appliance retail operating model.” said Doug Moore, CEO of 1847
Goedeker. “I believe this trend will continue in the months ahead,
after the companies combine into one business unit.”
Albert Fouerti, President of Appliances Connection, added, “Each
month we are encouraged by the continued growth in customers and
customer engagement at both of our companies on our websites and on
phone calls with the sales experts. We are becoming America’s best
choice for premium and luxury appliances.”
About 1847 Goedeker Inc.
1847 Goedeker is an industry leading e-commerce destination for
appliances, furniture, and home goods. Since its founding in 1951,
Goedekers has transformed from a local brick and mortar operation
serving the St. Louis metro area to a respected nationwide
omnichannel retailer that offers one-stop shopping for national and
global brands. While the Company maintains its St. Louis showroom,
over 90% of sales are placed through its website (www.Goedekers.com). Goedekers provides visitors an
easy to navigate shopping experience and offers more than 156,000
items organized by category and product features. Learn more at
www.Goedekers.com.
About Appliances Connection
Founded in 2000, Appliances Connection is one of the leading
retailers of household appliances with a 200,000 square foot
warehouse in Hamilton, NJ and a 23,000 square foot showroom in
Brooklyn, New York. Appliances Connection carries many premium name
brands, including Bosch, Cafe, Frigidaire Pro, Whirlpool, LG, and
Samsung, in addition to major luxury brands such as Miele,
Thermador, La Cornue, Dacor, Ilve, Wolf, Jenn-Air and Viking.
Appliances Connection provides appliance installation and removal
services to their customers as well as commercial products for
non-residential customers.
Forward Looking Statements
This press release contains “forward-looking statements” that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
"will” “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on 1847 Goedeker
Inc.’s current expectations and are subject to inherent
uncertainties, risks and assumptions that are difficult to predict.
Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
These and other risks and uncertainties are described more fully in
the section titled “Risk Factors” in the final prospectus related
to the public offering filed with the Securities and Exchange
Commission. Forward-looking statements contained in this
announcement are made as of this date, and 1847 Goedeker Inc.
undertakes no duty to update such information except as required
under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210210005464/en/
Dave Gentry, CEO RedChip Companies Office: 1.800.RED.CHIP
(733.2447) Cell: 407.491.4498 dave@redchip.com
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