REDMOND, Wash., February 22, 2022 (GLOBE NEWSWIRE) — Hour Buckle, Inc. (NASDAQ: HOUR) (“Hour Loop”), a leading online retailer, today announced that it has expanded its operations with the opening of three new offices in taipei, Taichung and Tainan. These new offices are part of Hour Loop’s expansion plans to broaden its operational capabilities across geographies.
“With the opening of our new offices in Taiwanwe are rapidly expanding our employee base and operational capabilities, which will enable us to generate sustained growth over time,” said Sam LaiCEO of hour loop. “In our short time as a public company to date, we have mandated and executed immediate and accelerated growth by increasing our staff from 70 to over 300 employees. This strategic expansion demonstrates our focus on scaling our business and capabilities as we execute our strategy which will ultimately drive increased value for our shareholders.
hour loop recently announced the closure of its $6.9 million initial public offering on January 6, 2022. The company uses proceeds from its listing to pay down debt, buy inventory and expand its workforce.
On Hour Buckle, Inc.
hour loop is an online retailer engaged in e-commerce retailing in the US market. It has operated as a third-party seller on www.amazon.com and has been selling goods through its website at www.hourloop.com since 2013. The company expanded its business to www.walmart.com in October 2020. To date, the Company has generated almost all of its revenue as a third-party seller from www.amazon.com and only a negligible amount of revenue from its own website and Walmart. hour loop manages over 100,000 storage units (“SKUs”). Product categories include home/garden decor, toys, kitchenware, apparel, and electronics. The Company’s primary strategy is to provide customers with most of its vendors’ product selections. It has advanced software that helps the Company identify product gaps so that it can keep these products in stock throughout the year, including the entire last quarter (holiday season) of the calendar year (“T4”). In the years to come, hour loop plans to rapidly expand its business by increasing the number of business owners, suppliers and SKUs.
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s business strategy, product development and industry trends. No guarantee can be given that the offer will be carried out according to the conditions described, or not at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control. Although the Company believes that these forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements, which are based on information available to the Company as of the date of this release. These forward-looking statements are based on current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Risk Factors section of the Company’s registration statement and prospectus. provisional offer filed with the SECOND. Therefore, actual results could differ materially. The Company undertakes no obligation to update these statements, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.
Investor RelationsAlex Thompson, Greg RoblesGateway Group, Inc.
Source: Hour Buckle, Inc.
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