Business
SFLMaven Announces Strong Sequential Growth in Unaudited Gross Sales During June 2022
SFLMaven Announces Strong Sequential Growth in Unaudited Gross Sales During June 2022.
About this update from Sflmaven Corp.
[{"type":"text","content":"\n 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....