Published on 19 Aug 2023 on Insider Monkey via Yahoo Finance

Polished.com Inc. (AMEX:POL) Q2 2023 Earnings Call Transcript

Polished.com Inc. (AMEX:POL) Q2 2023 Earnings Call Transcript August 16, 2023

Operator: Good morning, and welcome to the Polished’s Second Quarter Earnings Conference Call. Please note that certain statements made during the call constitute forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. These statements and uncertainties are described in the company’s financial statements, press release and its filings with the SEC. The forward-looking statements today are made as of the date of this call, and the company does not undertake any obligation to update the forward-looking statements. I would now like to turn the call over to Polished’s CEO, Mr. Rick Bunka; and Polished’s CFO, Mr. Bob Barry. Please go ahead, gentlemen.

John Bunka: Good morning, and thank you for joining the call. It hasn’t been that long since our last call. We remain committed to regular communication with investors. And so we wanted to briefly provide some color on the results that we posted last night and give the opportunity to ask some questions. Before I do hand the call off to Bob to discuss the results in greater detail, I’ll provide some context on the second quarter results. Similar to the first quarter, the second quarter was characterized by a net sales decline largely attributed to our core appliance businesses. Unlike the first quarter though, the second quarter experienced declines in the luxury category that were now comparable to the declines we were seeing in mass appliance.