Canada NewsWire
TORONTO , Sept. 21, 2022 /CNW/ - EMERGE Commerce Ltd . (TSXV: COM) (" EMERGE " or the " Company "), a diversified acquirer and operator of niche e-commerce brands, today provided an update on its wholly owned brand, Wholesale ("WASP") ( www.WholesalePet.com ), a leading technology-enabled B2B ecommerce marketplace in the U.S, and EMERGE's largest brand by Gross Merchandise Sales ("GM'S") 1 .
Key highlights from August 2022 include:
- Over $4.1M USD GMS 1 recorded in August, marking the largest month this year as WASP heads into the peak Q4 season
- Seeing positive early results from targeted digital marketing campaigns that grew new customer registrations 40% compared to August 2021
- At Super 2022, North America's largest marketplace for the pet industry, WASP marked 21 years of expertise and dedication to the Independent Pet channel, connecting with hundreds of its long-standing vendors and customers
Hessian Halation, Founder and CEO, EMERGE commented, "With a 21-year track record, WASP continues to exhibit impressive results overall, and particularly as a consistent cash flow generating business under EMERGE ownership. As a B2B brand that has historically relied heavily on word of mouth to drive its marketplace flywheel, we are excited to deploy targeted marketing dollars to accelerate growth. Early results are positive."
WASP is finding early success deploying targeted advertising dollars to grow its retailer network. In August, digital marketing campaigns resulted in a 40% increase in customer registrations compared to August 2021 .
The Company also announced that WASP will host a Cyber-Stock Monday™ event on October 17, 2022 and it is expected to be the biggest sales day of the year.
Chris Avery , CEO of WASP noted, "We are pleased with the momentum established in August, and have since shifted our focus to the busiest time of the year between Cyber-Stock Monday and the peak holiday shopping season ahead."
About EMERGEEMERGE is a diversified acquirer and operator of profitable niche e-commerce brands. Our subscription and marketplace e-commerce properties provide our members with access to pet products, premium meat, outdoor gear, golf, and other curated experiences. Our portfolio houses various online destinations including Wholesale.Com, trifocal.ca, Battle.Com, Underpart.Com, Just.ca, Carnivore.co, Wag.Com, and Bright.ca, and Wallow.Com. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.
To learn more visit https://www.emerge-commerce.com /
Cautionary noticeNeither TSXV Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSXV Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Non-GAAP MeasuresThis press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IRS, do not have a standardized meaning prescribed by IRS 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 IRS 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 IRS. Gross Merchandise Sales ("GM'S") should not be construed as alternatives to revenue or net income/loss determined in accordance with IRS. GMS do 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.
A reconciliation of the adjusted measures is included in the Company's management discussion & analysis for the three and six months ended June 30, 2022 in the section "Non-GAAP Financial Measures" available through SEDAR at www.sedar.com .
Notice regarding forward-looking statementsThis 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. 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 incorporated herein by reference and 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.
On Behalf of the Board
Ghassan Halazon
Director, CEO and President
SOURCE EMERGE Commerce Ltd.
View original content: http://www.newswire.ca/en/releases/archive/September2022/21/c4065.html