Meanwhile, PayPal acquires mobile payments firm Paydient.
Lands’ End Inc.’s web site’s profits topped those of its catalog for the first time in fiscal 2002, the company tells Internet Retailer. At the same time, online sales are rising as a percent of overall sales.
Lands’ End Inc.’s web site’s profits topped those of its catalog for the first time in fiscal 2002, the company tells Internet Retailer. At the same time, the company’s online merchandise sales are rising as a percent of overall merchandise sales.
The Dodgeville, WI-based company’s landsend.com recorded four straight years of profits up to the period ended Feb. 1, 2002, during which online merchandise sales reached $299 million, an increase of 37% over the prior year’s online merchandise sales of $218 million. Actual profit figures were not available.
Although overall merchandise sales for Lands’ End, including catalog and brick-and-mortar outlets, are also rising sharply, online sales are rising at a faster clip. Online merchandise sales were 21% of total merchandise sales of $1.4 billion in fiscal 2002, compared to 16% of $1.35 billion in the prior year.
Although comparable figures for the current fiscal year were not immediately available, the performance of online sales appears to be continuing, a spokeswoman says.
That online performance, however, is not taking away from the retailer’s multi-channel strategy, which still appears to be important to customers. The company notes, for example, that 75% of Lands’ End’s online customers also use its catalog.
The company doesn’t break down sales and revenue figures for catalog and brick-and-mortar locations.