Leading provider of high-end luxury goods, SFLMaven Corp (OTCMKTS:SFLM) on August 4, 2021, announced the filing of its unaudited financial performance data for six months ending June 30, 2021. The firm witnessed robust expansion in business activity as well as strong improvements in top-and bottom-line metrics.
The firm witnessed total sales of $4.8 million in sales at the end of six months and sales augmenting 14% on a year-over-year basis vis-à-vis the same period last year. SFLMaven gross profits of $608,423 were up by 194% on a year-over-year basis. The company’s inventory value at $770k was 28% higher on a year-over-year basis. The firm’s total current assets were up by 17% on a year-over-year basis.
Joseph Ladin, CEO of SFLMaven, said that robust improvements are being witnessed in core business both in overall expansion in sales as well as operational efficiencies. Ladin added that the firm is building additional sales channels.
Management also said that the firm had done robust implementation of robust competitive bidding dynamics as well as refined ad campaigns that can result in bottom-line cash flows from operations.
Management opines implementation of a multi-channel digital strategy holding potential to widen the firm’s end-market customer footprint as well as market share in the high-end jewelry marketplace.
Ladinfurther said that accelerating top-line growth will be favorable in the second half of the year, especially considering the macro tailwinds for the luxury goods sector from leading economic indicators as well as record household savings ratios.
SFLM stock is now up by 31% to $0.0055 on heavy volume.
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