American Greetings grows second quarter FY 2006 e-commerce sales by 51%
American Greetings Corp. put up e-commerce sales of $19.5 million for the second quarter of its 2006 fiscal year, up 51% from the same period in fiscal 2005 when web sales totaled $13 million.
For the first six months of the current fiscal year, web sales for American Greetings, No. 145 in the Internet Retailer Top 400 Guide to Retail Web Sites, were $47.6 million, an increase of 112% from web sales of $22.4 million for the period of January through June in fiscal 2005.
For 2006, AG Interactive, the company’s e-commerce unit, has changed the end of its fiscal year to coincide with the end of the year at the parent company. As a result, the six months ended August 31, 2005, includes eight months of AG Interactive’s operations, American Greetings says.
The web accounted for 6% of first half total sales of $830.8 million for American Greetings compared with 3% in fiscal 2005 when mid-year sales were $825.6 million.
Sales are up for AG Interactive due to acquisitions, new products in the instant messenger business and increased subscribers in the core online greeting card business, American Greetings says.
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