The U.S. online shopping world's biggest day is here, but will strong web sales on Black Friday and Thanksgiving cut into Cyber Monday's take?
Total sales increased year over year 35%.
Total sales grew for Geeknet Inc. in the third quarter. But it was e-commerce, the company’s biggest channel, that grew the fastest.
For the third quarter ended Sept. 30, Geeknet, which owns and operates ThinkGeek.com, No. 197 in the Internet Retailer Top 500, reported
- Sales for ThinkGeek.com, its online computer and related electronics web store, increased year over year 38.7% to $14.7 million from $10.6 million.
- Total revenue, which includes ThinkGeek and its media division, increased 34.0% to $19.7 million from $14.7 million in the third quarter of 2010.
- Net loss was $2.7 million compared with a net loss of $3.9 million in in the third quarter of 2010.
“Geeknet delivered a solid quarter heading into the important holiday season, executing against the company's business goals and staying on track to deliver profitable growth in 2011," says executive chairman Ken Langone.
E-commerce accounted for 74.6% of total sales compared with 72.1% in the third quarter of 2010.
For the first three quarters, Geeknet reported:
- Sales for ThinkGeek increased year over year 39.9% to $44.2 million from $31.6 million.
- Total revenue increased 33.9% to $59.7 million from $44.6 million in the first three quarters of 2010.
- Net loss was $7.2 million compared with a net loss of $9.2 million in in the first three quarters of 2010.
E-commerce accounted for 74.0% of total sales compared with 70.9% in the first two quarters of 2010.