Redcats USA posts moderate growth in 2007 web sales
Redcats USA is reporting a moderate increase in web sales for 2007.
The company, No. 28 in the Internet Retailer Top 500 Guide, grew web sales by 11% to $801 million in 2007 from $720 million in 2006.
Redcats USA is a division of Redcats Group, a business unit of PPR SA, which is a Paris retail conglomerate with interests in Puma, Yves Saint Laurent and Gucci. For the year, Redcats in the U.S. and overseas grew its total revenue to $5.6 billion, an increase of 1.8% from revenue of $5.5 billion in 2006, PPR says.
“The group’s leading brands -- La Redoute, Sportsman’s Guide and the plus-size division in the U.S. -- posted solid sales performances,” says PPR. “Online sales were up 19%, accounting for 46% of Redcats Group’s fourth-quarter revenues.”
In September Redcats USA also added market share by acquiring United Retail Group Inc., parent of women’s plus-size retail chain Avenue and e-commerce site Avenue.com, for $198.9 million in cash.
“Despite a tough business environment and overall decline in retail sales, Redcats USA’s web business increased by 11.2% through acquisitions and organic growth,” says Redcats USA CEO Eric Faintreny. “We continue to see ‘channel shift’ from catalog customers migrating from phone to web, which supports our multi-channel strategy.”
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