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Envela Corporation (ELA) drives innovation in sustainable luxury commerce through its re-commerce platform and circular economy solutions. This news hub provides investors and industry stakeholders with essential updates on corporate developments, financial performance, and market leadership in luxury asset management.
Access authoritative coverage of Envela’s strategic initiatives across both Consumer and Commercial divisions. Track earnings announcements, acquisition activity, sustainability milestones, and operational expansions within the luxury resale and IT asset disposition sectors.
Key updates include quarterly financial results, leadership changes, partnership announcements, and innovations in jewelry recycling or precious metal recovery technologies. All content undergoes rigorous verification to ensure compliance with financial disclosure standards.
Bookmark this page for real-time updates on ELA’s progress in bridging luxury markets with sustainable practices. Return regularly to maintain informed perspectives on one of re-commerce’s most dynamic public companies.
Envela Corporation (NYSE American: ELA) will report its fourth quarter and fiscal year 2021 financial results on March 16, 2022, after market close. As a leader in the re-commerce sector, Envela focuses on extending the useful life of specialty goods and promoting a circular economy. Its operations span retail and online platforms, featuring luxury hard assets and consumer electronics. The company has experienced multiple years of growth, reflecting its strong market position. Investors are advised to consider the inherent risks highlighted in their periodic SEC filings.
Envela Corporation (NYSE American: ELA) announced the appointment of Richard D. Schepp, former Chief Administrative Officer of Kohl's, to its Board of Directors as an independent member. This addition aims to leverage Schepp's extensive experience in growing retail and e-commerce businesses. With over 20 years in various boardroom roles, he brings crucial skills in M&A, strategic planning, and customer experience enhancement. Schepp's past achievements include navigating digital transformation and optimizing store operations at Kohl's, projected to positively impact Envela's growth strategy.
Envela Corporation (NYSE American: ELA) announced third-quarter financial results for 2021, reporting revenue of $37.7 million, up 12% quarter-over-quarter. Total revenue decreased compared to $38.8 million year-over-year. The DGSE subsidiary generated $25.5 million, while the ECHG subsidiary reported $12.2 million in revenue. Gross profit rose to $8.1 million from $7.2 million, with net income reaching $3.1 million, or $0.12 per share, compared to $3.0 million, or $0.11 per share, a year ago. The company continues to explore growth initiatives, including acquiring Avail Recovery Solutions.
Envela Corporation (NYSE American: ELA) announced its subsidiary ECHG, LLC has acquired the assets of Avail Recovery Solutions, LLC, a leader in IT asset recovery. This acquisition enhances Envela's presence in the recommerce sector focused on sustainability. Avail specializes in electronics recycling and IT asset disposition, servicing Fortune 2000 companies. The acquisition is expected to boost Envela's offerings in sustainability transformations and lifecycle management.
Envela Corporation (NYSE American: ELA) will report its third-quarter financial results on November 3, 2021, after market close. The company specializes in recommerce of luxury hard assets and consumer electronics, along with end-of-life recycling solutions. Its operations are conducted through two main segments: DGSE, LLC for luxury goods, and ECHG for electronics and IT equipment. Envela is committed to sustainable practices through its recycling services, catering to various industries.
Envela Corporation (NYSE American: ELA) will present at the 10th Annual Gateway Conference on September 9, 2021, at 11:00 a.m. Pacific time. The virtual event takes place on September 8-9, 2021, allowing one-on-one meetings with management. The presentation will be accessible via webcast and available for replay. Envela specializes in recommerce within luxury hard assets and consumer electronics, offering recycling solutions through its subsidiaries. Interested parties can request invitations or meeting schedules via email.
Envela Corporation (NYSE American: ELA) has announced an all-cash acquisition of Avail Recovery Solutions, targeted to close in early Q4 2021. Avail specializes in IT asset disposition and electronics recycling, aligning with Envela's strategy to enhance its recommerce offerings and sustainability efforts. This acquisition aims to create synergies and expand market reach in the environmentally-friendly sector. Both companies express optimism about the partnership's potential to deliver added value to shareholders and improve service offerings for clients.
Envela Corporation (NYSE American: ELA) reported a remarkable 280% increase in net income to $2.2 million for Q2 2021, compared to $566,000 in Q2 2020. Total revenue rose to $33.7 million, up from $20.5 million year-over-year. The DGSE subsidiary contributed $23.0 million to revenue, with strong demand in resale and recycled materials. ECHG also saw growth, generating $10.7 million. Consolidated gross profit improved to $7.1 million, reflecting effective execution across both business segments.
Envela Corporation (NYSE American: ELA) is set to release its second quarter financial results on August 4, 2021, after market hours. The company operates in the recommerce sector, focusing on recommercializing luxury hard assets, consumer electronics, and IT equipment, as well as providing end-of-life recycling solutions. Envela’s operations span both retail and wholesale levels through various brands and subsidiaries. For more details on Envela and its operations, visit Envela.com.
Envela Corporation (ELA) announced the acquisition of CExchange LLC's assets, enhancing its electronics trade-in services. The company anticipates this move will yield cost reductions and efficiencies, while contributing to revenue and earnings growth for shareholders. This acquisition aligns with Envela's strategic focus on expanding its presence in the recommerce sector. CExchange specializes in trade-in and recycling services, catering to major retailers, thus positioning Envela for further success in sustainable electronics management.
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