Newegg reaffirms full-year 2021 financial forecast, with net income rising!

According to official news from Newegg, Newegg expects a favorable holiday season and strong financial performance in the fourth quarter of 2021. Newegg said in its release that it reaffirmed its previously announced full-year guidance for 2021, which reflects consistent expectations for demand and profitability relative to its previous guidance.

For the full year, Newegg expects to achieve net sales of approximately $2.4 billion this year (similar to its previously announced net sales guidance of approximately $2.4 billion) and net income between $36.3 million and $40.3 million ( slightly higher than its previously issued guidance of net income between $36.1 million and $40.1 million).

The company's CEO Anthony Chow said he was very pleased with Newegg's strong performance so far this year, which proved that his company has successfully executed its strategy of focusing on profitable growth. This performance is in line with previous expectations and lays the foundation for a strong performance in the fourth quarter.

Meanwhile, Newegg Chief Financial Officer Robert Chang commented that continued strong consumer demand for technology products is expected to shape a favorable holiday season. With its year-to-date financial performance and positive outlook for the remainder of the year, Newegg is confident of achieving its previously announced 2021 financial and growth guidance.

They also stated that Newegg , similar to many businesses in the industry, has been and continues to be impacted by global supply chain challenges since the start of the pandemic . Disruptions to the global supply chain have put pressure on margins for Newegg's suppliers, directly impacting Newegg .

Currently, they are working hard to optimize relationships with suppliers and build mutual trust with them, as well as provide them with logistical and marketing support to incentivize them to put more products on the Newegg platform.

On the other hand, global supply disruptions have impacted consumer prices due to higher transportation costs, slower deliveries, and higher labor and raw material costs, which is also one of the challenges the company is overcoming.

It is understood that Newegg has invested in new talents and technologies to expand and improve its customer experience. Recently, it has launched a number of plans to better serve its global customers .

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