Business
SFLMaven Shareholder Update: All Core Metrics Showing Strong Growth Ahead of Holiday Shopping Season
SFLMaven Shareholder Update: All Core Metrics Showing Strong Growth Ahead of Holiday Shopping Season.
About this update from Sflmaven Corp.
[{"type":"text","content":"\n 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, up 33.9% on year-over-year basisNet Sales of $6.97 million, up 33.2% on year-over-year basis9,406 products sold, up 31.5% on year-over-year basisAvg Sales Price of $825.35 per item in 2021, up 2% 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...