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Web sales for Dreams climb 42%
Total 2010 sales rose 30.2%.
The web paid dividends for niche retailer Dreams Inc. in 2010.
For the year ended Dec. 31, Dreams, No. 198 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased 41.9% to $84.7 million from $59.7 million in 2009.
- Total sales increased about 30.2% to $111.3 million from $85.5 million in 2009.
- Manufacturing and distribution revenue decreased 2.6% to $11.1 million from $11.4 million in the prior year.
- Retail revenue increased 35.4% to $99.8 million from $73.7 million in the prior year.
- Net income was $1.3 million compared with net income of $150,000 in 2009, an increase of 766.7%.
Based on Internet Retailer calculations, the web accounted for 76.1% of all revenue compared with 69.8% in the prior year.
“E-commerce will remain our primary area of focus as we continue in our transformation to a technology-driven company, operating in the sports licensed products space and generating a majority of our revenues via the e-commerce channel,” says CEO Ross Tannenbaum.
For the fourth quarter:
- Web sales increased 45.7% to $51 million from $35 million in Q4 2009.
- Total sales increased about 40% to $60.6 million from $43.3 million in Q4 2009.
- Manufacturing and distribution revenue increased 5.9% to $3.6 million from $3.4 million in the prior year.
- Retail revenue increased 43.3% to $56.9 million from $39.7 million in the prior year.
- Net income was $4.1 million compared with net income of $3 million in 2009, an increase of 36.7%.
Based on Internet Retailer calculations, the web accounted for 84.2% of all revenue compared with 80.8% in the prior year.
“We will continue to invest in our future growth, leverage our purchasing power to reduce costs, expand our web syndication portfolio, sell more of our manufactured items through our retail channels and focus on e-commerce,” says Tannenbaum.