Q1 2020 Investors And Partners Earnings Report
As you all know, COVID-19 affected the production of our products and the ability to actually sell those products, along with shipping, customer service, and many other things. Though we haven't fallen short of anything big, profits weren't there yet again, but the revenue has been climbing. With big things moving into the year, we kicked 2020 into the year of testing new brands and new products which we'd love to show you.
January of 2020, before COVID-19 became a problem, these are the products we launched and began pulling sales in. We shifted BLARE from simple jewelry to more niched down jewelry for moms'. We launched ads late January, that ended up bringing in a good amount of sales but didn't convert into any profits.
February of 2020, of course the biggest month for e-commerce and the one that we did actually end up making a profit. So yeah, Valentines day sales kick started the first of the month, which really ended up bringing in a ton of revenue and a ton of profit. Though into March that was not so fortunate. Though BLARE was a huge hitter for Valentine's Day.
March of 2020, COVID-19 hit hard on the 12th of March, which ended up causing a lot of people including myself to have to turn off Facebook ads and of course doing so it ended up causing the profits to be taken away pretty quickly since we had to pay for the ads that we had already been spending.
Fulfillment partners, we understand all that you have been through this past month. We will continue to work with you into the new quarter and will work with you on delayed fulfillment.
Production Partners, we here at WiggyWear™ respect that you have closed your doors to keep your employees safe during these times of uncertainty. We look forward to working with you all more on opening your doors and paying your employees during a time like this one.
Earnings: We generated a profit in February but lost it in March, and that tells me that the holiday's this year are going to be a big deal. We believe that we are going to be profitable into the new year and we believe it's going to be worth the time you have put into this business, because it's coming!