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E-commerce growth approaches 40% for Dreams Inc. in Q3
Year-to-date web sales and total sales are up 43% and 31%, respectively.
Drilling down deeper into its niche continues to grow web sales for Dreams Inc.
For the third quarter ended Sept. 30, Dreams, the parent company of FansEdge.com, No. 181 in the Internet Retailer Top 500 Guide, reported:
- Growth in web sales of 38.5% to $18.7 million from $13.5 million in the third quarter of 2010.
- An increase in total sales of 23.2% to $24.4 million from $19.8 million.
- Net loss was about $1 million compared with a net loss of $719,000 in the prior year.
Internet Retailer calculates that e-commerce accounted for 76.6% of total sales, compared with 68.2% in the prior year quarter.
Dreams, which operates niche sites that sell licensed sports apparel and other merchandise, credits rising sales at FansEdge.com and more e-commerce service deals with companies such as Linens-N-Things and Major League Soccer, for the healthy increase in third quarter revenue. “Strong broad-market demand for our proprietary e-commerce platform and the consistent execution of our growth initiatives drove another quarter of solid double-digit revenue growth,” says CEO Ross Tannenbaum.
For the first nine months Dreams reported:
- Growth in web sales of 43.3% to $48.3 million from $33.7 million in the first three quarters of 2010.
- An increase in total sales of 31.4% to $66.6 million from $50.7 million.
- Net loss was about $3.9 million compared with a net loss of $2.7million in the prior year.
Internet Retailer calculates that e-commerce accounted for 72.5 % of total sales through the first nine months, compared with 66.5% in the prior year.