GSI Commerce Inc., a third-party provider of e-commerce platform and other services to web retailers, reported third-quarter net revenues of $84.9 million, up 24% from $68.8 million in the same period in 2004. Merchandise sales totaled $126.6 million for the quarter, up 26% from $100.2 million a year earlier.
"Net revenues for the fiscal third quarter exceeded the high end of our guidance range and gross margins were solid,” said Michael G. Rubin, chairman and CEO. “This demonstrates the strength of our underlying business.”
Since July 27, GSI has launched e-commerce operations for RadioShack, Bath & Body Works, Levi’s Brand, C.C. Filson & Co. and two online stores for Zale Corp.
GSI posted a third-quarter net loss of $4.5 million, compared with a $3 million net loss in 2004’s third quarter. v