PFS Reports Record Order Fulfillment Volume for Third Year in a Row
January 13 2023 - 8:30AM
PFS (NASDAQ: PFSW), a premier eCommerce order fulfillment provider,
is reporting record fulfillment volumes for 2022 and the
Thanksgiving Week and Cyber Week periods. PFS fulfilled over 30
million orders in 2022.
2022 Operational and Sales Highlights
- Set third consecutive year of record order fulfillment
volume.
- Fulfilled over $3.2 billion in gross merchandise value on
behalf of our clients in 2022.
- Shipped nearly 132 million units in 2022, an increase of 21%
compared to 2021.
- Shipped nearly 45 million units in Q4 2022, an increase of 10%
compared to 2021.
- Set a new quarterly record for orders fulfilled in Q4 –
surpassing Q4 2020 as PFS’ highest volume quarter in company
history.
- Set record Thanksgiving Week order fulfillment volumes, an
increase of 16% compared to the previous record in 2020.
- Set record Cyber Week order fulfillment volumes, an increase of
12% compared to the previous record in 2020.
- Eclipsed previous single-day record of orders fulfilled four
times during Cyber Week.
- Supported multiple clients who achieved record revenue days
during Cyber Week.
- Achieved a record year in new sales bookings, recording 31
bookings worth an estimated $44.9M in annual contract value
(ACV).
- Surpassed 100 brands in client portfolio.
“PFS executed well for its clients in 2022, and I am incredibly
proud of our performance,” said Zach Thomann, COO and President of
PFS. “We broke several company records along the way, which
culminated in setting a third straight record year of orders
shipped from our fulfillment centers.”
“Several of our clients had record revenue days as a result of
high consumer demand during holiday promotions and our team’s
high-quality execution,” continued Thomann. “Deploying a multi-node
fulfillment operation for several large clients helped us maximize
our available labor pool and achieve these record daily volumes. I
am grateful for the effort our team put forth leading up to and
during the holiday peak period to achieve these record
numbers.”
Promotions and Consumer Buying More Focused on
Thanksgiving Week and Cyber Week
This year, brands chose a more traditional holiday promotional
cycle around Black Friday and Cyber Monday with less promotional
activity after Cyber Week through the end of the year. This client
promotional behavior resulted in consumer buyer behavior returning
to similar patterns experienced in 2018 and 2019. This shift led to
significant fulfillment volume spikes during Thanksgiving Week
2022, where PFS fulfilled approximately 16% more orders compared to
its previous record set during Thanksgiving Week 2020, and also
Cyber Week 2022, where PFS fulfilled approximately 12% more orders
compared to its previous record set during Cyber Week 2020.
Similar to 2018 and 2019, PFS experienced a more significant
decrease in fulfillment volumes as client promotional activities
slowed following Cyber Week as compared to 2020 and 2021, which is
expected to negatively impact year-over-year comparisons. PFS still
expects to deliver strong annual revenue performance, within the
prior guidance range, with revenue anticipated to be toward the
bottom end of the targeted 5% to 10% SFE revenue growth.
Record Sales Bookings and Multi-Node Fulfillment
Expansion
PFS also reported 31 new sales bookings estimated to be worth
$44.9M in combined ACV in FY 2022, which set a new company record
and resulted in 20 new client implementations throughout the year.
The company’s ability to launch these new clients in conjunction
with opening its second Las Vegas-based fulfillment center was key
to success.
Thomann concluded: “As we discussed throughout 2022, the
momentum we created early in the year with new sales bookings from
both new and existing clients resulted in a record sales bookings
year. Combining these client wins with certain existing client
overperformance drove the above record order fulfillment volumes
and solidified our multi-node strategy as a sustainable growth
model. Eighteen PFS brands now ship from multiple PFS fulfillment
centers—up from 15 at the end of 2021—and we have plans to continue
expanding our fulfillment center footprint in 2023. Our previously
announced second Dallas-area fulfillment center is scheduled to
open in Q2, and we are also exploring new fulfillment space in the
United Kingdom. As we progress into 2023, we will continue to
deliver quality services and a differentiated eCommerce fulfillment
platform for our esteemed clients to distinguish PFS in the market
and sets us up for continued targeted SFE revenue growth in 2023 of
at least 5% to 10%.”
PFS leadership will be in attendance at booth #6715 at NRF 2023,
Retail’s Big Show taking place at the Jacob K. Javits Convention
Center in New York City on January 15-17.
Read more on PFS’ 2022 operational performance here.
About PFS
PFS, the business unit of PFSweb, Inc. (NASDAQ: PFSW) is a
premier eCommerce order fulfillment provider. We facilitate each
operational step of an eCommerce order in support of DTC and B2B
retail brands and specialize in health & beauty, fashion &
apparel, jewelry, and consumer packaged goods. Our scalable
solutions support customized pick/pack/ship services that deliver
on brand ethos with each order. A proven order management platform,
as well as high-touch customer care, reinforce our operation. With
20+ years as an industry leader, PFS is the BPO of choice for
brand-centric companies and household brand names, such as L’Oréal
USA, Champion, Pandora, Shiseido Americas, Kendra Scott, the United
States Mint, and many more. The company is headquartered in Irving,
TX with additional locations around the globe. For more
information, visit www.pfscommerce.com or ir.pfsweb.com for
investor information.
North American Media Relations: Robin
OlsenBerkeley
Communications720-891-8870robin.olsen@berkeleypr.com
UK/European Media Relations: Amanda
FrancisBerkeley Communications+44 (0)1189 090
909PFSweb@berkeleypr.com
Investor Relations: Cody Slach or Jackie
KeshnerGateway Group, Inc. 1-949-574-3860 PFSW@gatewayir.com
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