1847 Goedeker Clocks 48% June Revenue Growth, Expects To Fund Appliance Gallery Acquisition With Operating Cash Flow

Online retailer 1847 Goedeker Inc GOED reported monthly revenue growth of 47.8% year-on-year to $55.7 million for June 2021. Monthly orders rose 19.2% Y/Y to $73.2 million.
It recorded a significantly improved fill rate of 76.1%, up from 61.4% in June 2020, along with record shipments, CEO Doug Moore said.
Suppliers continue to improve supply, although the fill rate has a significant opportunity for improvement beyond the 76% achieved in June.
Goedeker also inked an asset purchase agreement with Largo, Florida’s luxury appliance retailer Appliance Gallery. It will be able to pay the cash purchase price out of its operating cash flow.
It held $47.2 million in cash and equivalents as of Mar. 31, 2021.
Price action: GOED shares traded higher by 7% at $3.82 in the premarket session on the last check Monday.