1847 Goedeker Continues Strong 2021 Performance With Monthly Record June Revenues Up 47.8% to $55.7 Million

Monthly June 2021 orders increased 19.2% to $73.2 million over the prior year period

1847 Goedeker Inc. and its Appliances Connection Business, the largest pure-play online retailer of household appliances in the U.S., is pleased to report continued strong growth with record monthly orders and revenue results. June 2021 monthly orders increased 19.2% from the prior year period to $73.2 million while June 2021 monthly revenues totaled $55.7 million, representing a 47.8% increase over the June 2020 results.

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“We are incredibly pleased with the continued strong momentum during the first half of this year, as June marks a record performance for the organization,” stated Doug Moore, CEO of Goedekers. “Throughout the past month, we have experienced a significantly improved fill rate of 76.1%, up from 61.4% in June of 2020, along with record shipments. We are encouraged by the sequential progress we made in revenue achievement versus orders as the fill rate of 76.1% is at its highest level for 2021. Suppliers continue to take steps to improve supply, although our fill rate has a significant opportunity for improvement beyond the 76% achieved in June.  Speed of delivery and the customer satisfaction levels for delivery remain at the forefront of our strategic plan.”

Moore continued, “The first month of being a combined company went well.  As we continue to pursue our long-term goals and model of investments driving scalable profitable growth, we believe we are in a great position to continue this momentum through the balance of the year.”

“Let me also add some detail on this week’s acquisition announcement. We entered into an asset purchase agreement with Appliance Gallery, a highly regarded Largo, Florida-based luxury appliance retailer and will be able to pay the cash purchase price that is due at closing for the acquisition out of our positive operating cash flow. There will not be any offering or other financing associated with the transaction,” concluded Moore.

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