January 30, 2001, 5:16 PM
Global Sports ahead of the game in 2000
Sporting goods web site developer and operator Global Sports Inc. expects to outperform analysts' quarterly and yearly estimates. Global Sports, which operates web sites for Fogdog, The Athlete's Foot and other major sporting goods online stores, expects its net sales for the quarter that ended Dec. 30, 2000, will be greater than the average of analysts estimates of $19.3 million, compared to the net sales of $5.5 million in fourth quarter in 1999. The company's operating loss for Q4 2000, excluding non-cash charges, will be less than the average of analysts' estimates of $9.9 million, compared to an operating loss of $14.7 million in the same quarter a year earlier. Global Sports also expects to end 2000 in a strong financial position, with cash, cash equivalents and short-term investments of approximately $93 million, compared to about $27.3 million at the end of 1999.