So, this PFSweb, Inc. (PFSW) update boosted stock in the premarket today

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BIGC Stock
BIGC Stock

‎PFSweb, Inc. (NASDAQ: PFSW) stock is currently trading at a distance of 4.37% from the 20-days Simple Moving Average. With a Market Cap of 142.91M, the company has a total of 1800 employees on its payroll.

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‎‎A global commerce services company, PFSweb, Inc. (NASDAQ: PFSW), will see a record amount of fulfillment in its PFS division in the fourth quarter of 2020.


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Fourth Quarter 2020 Fulfillment Highlights

  • Almost 11 million orders were fulfilled, an 88% increase.
  • The number of orders processed in November and December 2020 exceeded four million per month.
  • Over two million orders were delivered during Cyber Week, a peak fulfillment period between Black Friday and Cyber Thursday.

“Our strong Q4 and our strong holidays were driven by the deep commitment of our PFS team to serve our customers in this peak period,” said Mike Willoughby, CEO of PFSweb. “PFS has performed at a high level across 2020 for its consumers, with pandemic-related domicile mandates driving developments in eCommerce demand all year round. I am very proud of the hard work of our staff to handle these expanded amounts while retaining our high level of operation and distinct direct to consumer products.”

Fourth Quarter and Full-Year 2020 Operational Highlights

  • PFS’s two new distribution centers in Dallas and Belgium have dramatically increased their potential for core customers over fewer than two full months of operations.
  • PFS’s two new fulfillment centers on the European continent brought significant expansion to their key clients’ fulfillment capacity in less than two full months.
  • In Q4 2020, more than one million customer inquiries were answered in the remote contact center, with lesser attrition than in the previous year.
  • A successful holiday deployment of RetailConnect and CloudPick paves the way for even wider rollouts next year:
  • During the recent holiday season, PFS’s first retailConnect client shipped over five thousand orders to three stores while increasing store fulfillment productivity by approximately 30%.
  • About 10% of a client’s EU orders for the holiday season came from CloudPick-based fulfillment technology deployment in their German distribution center.
  • The company plan to process $3 billion in gross merchandise value by the end of 2020 and an additional $400 million for order-to-cash platform-only clients.
  • In the full year 2020, the value of payment transactions processed through PFS’s financial services increased by 51% to $1.4 billion.

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Conclusion

Following the buoyant News by PFSweb, Inc. (NASDAQ: PFSW), the stock surged dramatically in the premarket session when it went up 32.68% to $9.50.

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