Dreams hits an October web sales grand slam
November 3, 2011 10:19 AM
It was an October to remember for Dreams Inc., parent of FansEdge.com and other sports-related sites.
The company reported it generated $9.1 million in e-commerce sales for the month of October, up by 32% from about $6.9 million in the same month last year.
Dreams will not report total third quarter sales and income until it breaks out full earnings later this month.
The October web sales increase was attributed to organic growth from FansEdge.com, combined with an expanding portfolio of what it terms “web syndication clients,” such as online sports gear stores that Dreams operates for the University of Miami and the University of Texas.
"We continue to see an increase in online purchases from fans who demand a greater range of sports merchandise,” says Ross Tannenbaum, Dreams’ president and CEO. “We are very well positioned to take further market share with our fully integrated e-commerce platform through the remainder of this year and beyond.”
For the six months ended June 30, Dreams, No. 181 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased about 38.7% to $12.9 million from $9.3 million in the prior year quarter.
- Total sales increased about 29.2% to $18.6 million, from $14.4 million.
- Net loss was $1.7 million, compared with a net loss of $1.2 million in Q2 2010
Based on Internet Retailer calculations, the web accounted for 69.4% of all revenue for the first half of 2011, compared with 64.6% in the prior year period.