Q1 sales at Gmarket rise 54% year-over-year to $772 million
Gmarket Inc. generated gross merchandise sales of $771.6 million for the first quarter of 2007, an increase of 54% over sales of $500.7 million in the first quarter of 2006.
Gross merchandise sales, or gross merchandise value, is defined as the total value of all items sold on the e-commerce marketplace.
Gmarket is a South Korean shopping portal which also trades in the U.S. on NASDAQ. The company`s top three product categories in terms of percentage of first quarter 2007 gross merchandise sales include: computers and electronics up 32%; clothing and accessories up 30%; and food and child care products up 15%.
Gmarket, which includes Yahoo as a minority owner, expects gross merchandise sales to range from $3.3 billion to $3.8 billion in 2007. In 2006, the company had gross merchandise sales of $2.45 billion, compared with $1.16 billion in 2005.
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