Its reported acquisition of mobile point-of-sale service provider GoPago points in that direction. GoPago would give Amazon the technology to compete with other players ...
American Greetings ends fiscal 2011 with declining web sales
Sales for AG Interactive fell 2.4% for the full year and 5.9% in Q4.
American Greetings Corp. ended the 2011 fiscal year on a pair of sour e-commerce notes: Web sales declined for the fourth quarter and the full year.
For the fiscal year ended Feb. 28, American Greetings, No. 160 in the Internet Retailer Top 500 Guide, reported:
- Sales for AG Interactive, the company’s e-commerce business unit, declined 2.4% to $78.4 million from $80.3 million in fiscal 2010.
- Total revenue declined year over year 2.5% to $1.59 billion from $1.63 billion.
- Net income increased 6.6% to $87.0 million from $81.6 million in fiscal 2010.
“Our business is running well, our financial results exceeded our expectations, and the team had a great performance in an otherwise challenging year,” says CEO Zev Weiss.
Internet Retailer calculates the web accounted for 4.9% of total sales, the same as in fiscal 2010.
For the fourth quarter of fiscal 2011:
- Sales for AG Interactive declined 5.9% to $22.2 million from $23.6 million in the fourth quarter of fiscal 2010.
- Total revenue declined year over year 0.7% to $423.3 million from $426.4 million.
- Net income decreased 17.6% to $15.5 million from $18.8 million in the fourth fiscal 2010.
Internet Retailer calculates the web accounted for 5.2% of total sales, compared with 5.5% in the fourth quarter of fiscal 2010.