Newegg Commerce Inc - NEGG STOCK NEWS

Newegg Commerce, Inc. (NASDAQ: NEGG) forecasts strong financial performance for 2021, anticipating net sales of approximately $2.4 billion and net income between $36.1 million and $40.1 million. The company expects about $1.2 billion in sales for the second half of the year, driven by robust demand for technology products. Newegg is also considering equity-based compensation initiatives and new capital-raising measures, including potentially offering newly issued common shares, to support growth and attract and retain talent.

Newegg Commerce, Inc. (NASDAQ: NEGG) has announced the launch of same-day delivery services for customers in Southern California. This service requires no membership or minimum order amount, enhancing customer convenience. The Newegg Express delivery fleet is capable of fulfilling thousands of orders daily from its Los Angeles County fulfillment center, covering areas from Calabasas to San Diego. Orders placed before 10:30 AM PT will be delivered the same day, while those ordered later will arrive the following business day.

Newegg Commerce reported strong financial results for H1 2021, with net sales increasing 39.9% to $1,206.9 million, and gross profit rising 33.9% to $166.9 million. Net income grew by 14.0% to $21.6 million ($0.05 per diluted share). The company expanded its customer base to 4.2 million active users and achieved a 32.5% rate of repeat purchases. Investments in new technologies and a new 43,000 sq. ft. warehouse in Shanghai are set to enhance operational capacity and customer experience.

Newegg Commerce, Inc. (NASDAQ: NEGG) announced that CEO Anthony Chow received the CEO of a Public Company Leadership Award from Los Angeles Times B2B Publishing during a live webcast ceremony on August 5, 2021. This award acknowledges CEO contributions to their organizations and communities. Chow expressed gratitude for the recognition and highlighted the team’s efforts in transforming Newegg into a global e-commerce leader, culminating in its Nasdaq listing in May 2021. The September 12, 2021 print edition of the Los Angeles Times will showcase Chow and other award winners.

Newegg Commerce, Inc. (NASDAQ: NEGG) announces it will be the first major retailer to accept Litecoin (LTC) as a payment option via the BitPay platform starting this week. This move showcases Newegg's commitment to integrating innovative payment methods, having previously enabled Bitcoin and Dogecoin payments. The integration allows customers to pay with Litecoin through the BitPay Wallet app, enhancing their shopping experience with flexible payment options. This partnership with BitPay continues Newegg's reputation as an e-commerce innovator.

On July 14, 2021, Hangzhou Lianluo Interactive Information Technology Co. announced that Newegg Commerce, Inc. expects increases in gross merchandise value, net sales, and net income for the first half of 2021 compared to the same period in 2020. The preliminary financial estimates are subject to change and are not audited. The company cautioned investors about stock price volatility influenced by factors like COVID-19, competition, and operational results. Newegg remains focused on its role as a tech-focused e-retailer serving a global customer base.

Newegg introduces a new professional PC assembly service via its Newegg PC Builder platform. This build-to-order (BTO) service offers faster delivery and customization options compared to traditional offerings.

Newegg's extensive inventory allows for prompt sourcing and assembly of custom PCs, particularly targeting gamers with high-performance components.

Initial beta phases will provide insights for future enhancements, including further personalization features like laser engraving.

Newegg Commerce (NASDAQ: NEGG) has launched its 2021 FantasTech Pre-Sale, offering significant discounts on a variety of products including electronics and gaming items. The Pre-Sale runs from June 14 to June 20, 2021, leading into the official FantasTech Sale from June 21 to June 23. Notable deals include a GIGABYTE AORUS Gaming Laptop priced at $1,949.99 and a Klipsch Subwoofer at $139.99. Newegg is also introducing a Price Protection program ensuring customers receive the lowest price during the sales event.

Newegg Canada, a subsidiary of Newegg Commerce, Inc. (NASDAQ: NEGG), has launched its 2021 FantasTech Pre-Sale, running from June 14 to June 20, 2021. The event features significant discounts on a wide variety of products, ranging from consumer electronics to gaming products. Following the pre-sale, the official FantasTech Sale will take place from June 21 to June 23, 2021. Newegg Canada is also introducing a Price Protection program that refunds customers the difference if eligible purchased products are discounted further during the event.