BuildDirect Completes Insourcing of Warehouse Operations in Northeastern United States

Vancouver, British Columbia–(Newsfile Corp. – June 14, 2023) – BuildDirect.com Technologies Inc. (TSXV: BILD) (“BuildDirect” or the “Company”), a leading omnichannel building material retailer, is pleased to announce that the Company completed a project to consolidate BuildDirect’s third-party warehouse operations in the Northeastern United States and will now insource those operations through a wholly-owned location in Michigan.

This initiative aims to continue to unlock inventory synergies between BuildDirect’s e-commerce and brick-and-mortar businesses and lower fulfillment costs for the Company’s e-commerce operations. As previously announced, BuildDirect will continue to evaluate opportunities to build out its network of warehouses or stores in major U.S. and Canadian markets that provide local products and services for Pros while also fulfilling e-commerce orders.

BuildDirect Warehouse

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7497/169807_figure1.jpg

“While expanding our operations remains a key focus of our business, we also aim to maximize cost-efficiencies by insourcing our warehouse operations,” said Shawn Wilson, CEO of BuildDirect. “BuildDirect has produced five consecutive quarters of positive adjusted EBITDA results and we intend to continue to explore opportunities to improve our profitability by unlocking cost synergies between our e-commerce and brick-and-mortar operations. Moving forward, we will continue to evaluate different synergistic initiatives to achieve cost-savings and improve our bottom-line.”

About BuildDirect

BuildDirect (TSXV: BILD) is a leading omnichannel building material retailer. BuildDirect connects North American home improvement B2B and B2C organizations, and homeowners with quality building materials and services through its robust global supply chain network. BuildDirect’s growth trajectory, strong product offering, and proprietary heavyweight delivery network are delivering value today, solidifying its position as an innovative player in the home improvement industry. For more information, visit www.builddirect.com.

Story continues

Forward-Looking Information:

This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. These statements reflect management’s current beliefs and expectations and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions.

Forward-looking statements in this press release may include, without limitation, statements relating to the unlocking of inventory synergies between BuildDirect’s e-commerce and brick-and-mortar businesses and lowering of fulfillment costs for the Company’s e-commerce operations, the building out of BuildDirect’s network of warehouses or stores in major U.S. and Canadian markets to provide local products and services for Pros while also fulfilling e-commerce orders, the expansion of BuildDirect’s operations, the improvement of BuildDirect’s profitability and bottom line, and the achievement of cost-savings including by insourcing of BuildDirect’s warehouse operations.

Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations, retention of key personnel and changes in general economic, business and political conditions. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements.

Although the forward-looking statements contained in this press release reflect the Company’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. There may be other risks, uncertainties and factors that cause results not to be as anticipated, estimated or intended and such changes could be material. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

For further information:
Matt Alexander
Interim CFO
1.778.382.7748

BuildDirect Investor Relations
[email protected]
1.905.347.5569

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169807