Q3 web sales grow 11% for Hanover Direct
Web sales for Hanover Direct rose 11.3% in the third quarter while total sales declined by 3.2%.
For Q3 Hanover Direct generated e-commerce revenue of $43.1 million vs. web sales of $38.7 million in the previous year. Total sales in the third quarter dropped to $93.7 million from $96.8 million in Q3 2005.
Overall the web accounted for 46% of revenue in Q3, compared with 40% in the previous year. For the first nine months of the year, Hanover Direct reported web sales and total sales of $133.2 million and $302.8 million, respectively.
To reduce its operating expenses, Hanover Direct, No. 73 in the Internet Retailer Top 500 Guide to Retail Web Sites, is phasing out its third-party fulfillment operation to three outside companies within the next year.
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