Kaspien Reaches a Billion Dollars in Lifetime Revenue on E-commerce Marketplaces and Announces Compliance with Nasdaq Listing Requirements
Kaspien marked their billionth dollar sale on ecommerce marketplaces this week. During the rise of e-commerce shopping in 2020, Kaspien has seen Net Revenue, Gross Merchandise Value (GMV) and Gross Profit gains.
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“One billion in lifetime revenue represents a significant milestone in the history of our company,” said Brock Kowalchuk, Chief Financial Officer at Kaspien Inc. “It symbolizes our ability to endure as one of the original third-party retailers in the marketplace industry. Not only have we persevered as the industry continues to evolve, but we’ve also built a scalable business that is meeting a real need for brands looking to optimize and grow on online marketplaces.”
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Additionally, on Jan. 22, 2021 Kaspien Holdings received written notice from the Listing Qualifications Staff of The Nasdaq Stock Market confirming that the company had regained compliance with the continued listing requirements after the company’s market value exceeded $35MM for 10 consecutive days in January.
Significant highlights of the past year include:
- Rebranded parent company from Trans World Entertainment to Kaspien Holdings Inc.
- Named Kunal Chopra CEO of Kaspien Holdings
- Moved corporate headquarters from Albany, NY to Spokane Valley, Wash.
- Announced a net revenue increase of +36% in Q3 2020 compared to prior year
- GMV increase of 127% in Q3 2020 compared to prior year, led by gains in subscription business.
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