1847 Goedeker Triples Shipping Capacity with New Fulfillment Center to Meet Expected Rapid Growth in 2021
January 14 2021 - 7:00AM
Business Wire
Reduces time from order to shipment with
larger inventory of best-selling products
1847 Goedeker Inc. (NYSE American: GOED) (“Goedekers” or the
“Company”), a one-stop e-commerce destination for appliances and
furniture, today announced the upgrade of its fulfillment center to
provide increased capacity to meet the Company’s 2021 growth
forecasts and to support Appliances Connection’s regional
shipments.
“Our new fulfillment center includes an on-trend retail space in
a high-growth corridor and will showcase premium brand offerings,”
stated Jacob Guilhas, Vice President of Logistics for 1847
Goedeker. “The new showroom and nearly 200 percent increase in
warehouse capacity will help us meet our 2021 projections and serve
as an expanded warehouse to support Appliances Connection’s
customers in the western-half of the US. The expanded capacity will
also allow us to inventory the best-selling products, reducing time
from order to shipment and driving a 3x improvement to shipping
capacity compared to our current facility.”
The Company expects to start using the warehouse space
immediately and open its new showroom by April 2021. As the new
facility’s latest tenant, Goedeker’s build out of the space will
maximize efficiencies, including expanded cross-docking
capabilities for improved order to shipment times.
"We are addressing a $21 billion industry as the only pure play
online appliance retailer listed on a major exchange, and we are
still at an early stage of capitalizing on this tremendous
opportunity," stated Doug Moore, CEO of 1847 Goedeker. "Over the
past year, we have been investing in people, processes, and
systems, and this new facility is another important milestone for
these initiatives. Combined with our highly targeted digital
marketing platform, we believe these investments will drive
significant revenue growth and dramatically increase our market
share as we continue to execute on our vision of growing Goedeker's
to a billion-dollar revenue company, and in the process, becoming
the largest, most profitable online retailer of appliances in the
US."
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 185,000 items
organized by category and product features. Specialization in the
home category has enabled Goedekers to build a shopping experience
and an advanced logistics infrastructure that is tailored to the
unique characteristics of the market. 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 household
name brands, including Bosch, GE, Frigidaire, Whirlpool, LG, and
Samsung, and also carries many major luxury appliance brands such
as Verona, Thermador, La Cornue, Dacor, Smeg, and Viking. Appliance
Connection provides appliance installation services and old
appliance removal services. In addition to selling appliances, it
also sells furniture, fitness equipment, plumbing fixtures,
televisions, outdoor appliances, and patio furniture, as well as
commercial appliances for builder and business clients.
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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Dave Gentry, CEO RedChip Companies Office: 1.800.RED.CHIP
(733.2447) Cell: 407.491.4498 dave@redchip.com
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