EMERGE Achieves $1M Sales, Strong Growth YoY During "Black Friday - Cyber Monday"
TORONTO, Dec. 4, 2024 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a premium e-commerce brand portfolio, today announced preliminary Gross Merchandise Sales ("GMS")(1) results from the Black Friday-Cyber Monday ("BFCM") shopping period.
In total, EMERGE's e-commerce brand portfolio drove GMS(1) of $1.04M during this year's BFCM event (November 29- December 2, 2024), representing year-over-year ("YoY") growth of approximately 10%.
BFCM Highlights
- $1.04M GMS(1) transacted in total for the BFCM 4-day event
- GMS(1)growth of 12% YoY inclusive of the BFCM "Pre-Launch" event that took place on Thursday, November 28 vs. comparable 5-day period in 2023
- Highest GMS(1) occurred on Cyber Monday with $352K, growth of 11% YoY
- Total Transactions of 5,212 across our sites
- Average Order Value ("AOV") of $199.2 across our sites
- truLOCAL(premium meat & seafood subscription) achieved the highest growth rate across the portfolio (16% YoY), while UnderPar (discounted golf experiences) contributed the highest GMS dollars transacted across our sites
Ghassan Halazon, Founder and CEO, EMERGE commented, "BFCM exceeded management's expectations, building on our topline growth acceleration and overall operational momentum in recent quarters. We are particularly pleased to drive strong organic growth in GMS(1), the actual sales volume transacted on our sites, across both our Grocery and Golf divisions, during this landmark shopping event, a testament to the team's efforts and the compelling value proposition we offer our valued members and merchants alike. We believe these positive BFCM results bode well for the peak holiday shopping season ahead, and for Q4 overall."
About EMERGE
EMERGE (TSXV: ECOM) is a premium e-commerce brand portfolio in Canada and the U.S. Our subscription and marketplace e-commerce properties provide our members with access to unique offerings across grocery and golf verticals. Our grocery businesses include truLOCAL.ca, our premium meat subscription brand, and Carnivore Club, our artisanal meat brand. Our golf businesses include UnderPar, our discounted experiences brand, and JustGolfStuff, our golf products & apparel brand.
To learn more visit https://www.emerge-commerce.com/
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Cautionary notice
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Non-GAAP Measures (1)
This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of the Company reported under IFRS. Gross Merchandise Sales ("GMS") should not be construed as alternatives to revenue or net income/loss determined in accordance with IFRS. GMS does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers.
GMS as defined by management is the total dollar value of customer purchases of goods and services, excluding applicable taxes and net of discounts and refunds. Management believes GMS provides a useful measure for the dollar volume of e-commerce transactions made through our platforms and an indicator for our business performance.
Notice regarding forward-looking statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions, and including statements with respect to the anticipated savings to result from the implementation of the cost optimization and synergies initiative. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's MD&A and Annual Information Form, which are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention, and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
All data presented here is approximate and is based on various assumptions. All data is unaudited and is subject to adjustment. All financial figures are in CAD.
On Behalf of the Board
Ghassan Halazon
Director, CEO and President
SOURCE Emerge Commerce Ltd.