KING OF PRUSSIA, Pa., Aug. 18 /PRNewswire-FirstCall/ -- GSI Commerce Inc. announced it has entered into a definitive agreement with the Customer Direct business of Sears, Roebuck and Co. to supplement and enhance the variety of sporting goods products sold through the retailer's website, sears.com.
As part of the arrangement, sears.com will supplement its online fitness and recreation product category by leveraging both GSI Commerce's extensive inventory of sporting goods and proven fulfillment infrastructure. The new arrangement will significantly enhance Sears customers' online shopping experience by expanding the variety of sporting goods available at sears.com.
GSI Commerce expects its products to be launched on sears.com during the third quarter. A phased rollout of additional sporting goods lines and products is expected to follow the launch with a ramp continuing into the holiday selling season.
"GSI Commerce hopes to leverage its expert capabilities and leadership position in the online sports merchandising category to enhance its online business. As we look to continue to grow this portion of our business, relationships we establish with top brands such as sears.com differentiates our company in the e-commerce marketplace," said Michael G. Rubin, chairman and chief executive officer of GSI Commerce.
About GSI Commerce
GSI Commerce provides an e-commerce solution enabling retailers, branded manufacturers, entertainment companies and professional sports organizations to operate e-commerce businesses. The company's e-commerce solution includes Web site design and development, e-commerce technology, managed hosting, order fulfillment, customer service, merchandising and order management, online merchandising, customer relationship management, content development and online marketing. The company operates either all or a portion of the e-commerce businesses for approximately 45 partners.
About Sears
Sears, Roebuck and Co. is a leading broadline retailer providing merchandise and related services. With revenues in 2003 of $41.1 billion, the company offers its wide range of home merchandise, apparel and automotive products and services through more than 2,300 Sears-branded and affiliated stores in the U.S. and Canada, which includes approximately 870 full-line and 1,100 specialty stores in the U.S. Sears also offers a variety of merchandise and services through sears.com, landsend.com and specialty catalogs. Sears is the only retailer where consumers can find each of the Kenmore, Craftsman, DieHard and Lands' End brands together - among the most trusted and preferred brands in the U.S. The company is the largest provider of product repair services with more than 14 million service calls made annually.
Forward-Looking Statements
All statements made in this release other than statements of historical fact are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "should," "guidance," "potential," "continue," "project," "forecast," "confident," "prospects," and similar expressions typically are used to identify forward- looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of GSI Commerce and the industries and markets in which GSI Commerce operates. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. Factors which may affect GSI Commerce's business, financial condition and operating results include the effects of changes in the economy, consumer spending, the financial markets and the industries in which GSI Commerce and its partners operate, changes affecting the Internet and e-commerce, the ability of GSI Commerce to develop and maintain relationships with strategic partners and suppliers and the timing of its establishment or extension of its relationships with strategic partners, the ability of GSI Commerce to timely and successfully develop, maintain and protect its technology and product and service offerings and execute operationally, the ability of GSI Commerce to attract and retain qualified personnel, the ability of GSI Commerce to successfully integrate its acquisitions of other businesses, if any, and the performance of acquired businesses. More information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the Securities and Exchange Commission. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements, except as otherwise specifically stated by GSI Commerce.
Contacts: Greg Ryan Michael Conn Director, Corp. Communications Senior Vice President Corp. Development tel: 610-491-7294 tel: 610-491-7002 fax: 610-265-2866 fax: 610-265-7302 e-mail: ryang@gsicommerce.com e-mail: connm@gsicommerce.com
GSI Commerce, Inc.
As part of the arrangement, sears.com will supplement its online fitness and recreation product category by leveraging both GSI Commerce's extensive inventory of sporting goods and proven fulfillment infrastructure. The new arrangement will significantly enhance Sears customers' online shopping experience by expanding the variety of sporting goods available at sears.com.
GSI Commerce expects its products to be launched on sears.com during the third quarter. A phased rollout of additional sporting goods lines and products is expected to follow the launch with a ramp continuing into the holiday selling season.
"GSI Commerce hopes to leverage its expert capabilities and leadership position in the online sports merchandising category to enhance its online business. As we look to continue to grow this portion of our business, relationships we establish with top brands such as sears.com differentiates our company in the e-commerce marketplace," said Michael G. Rubin, chairman and chief executive officer of GSI Commerce.
About GSI Commerce
GSI Commerce provides an e-commerce solution enabling retailers, branded manufacturers, entertainment companies and professional sports organizations to operate e-commerce businesses. The company's e-commerce solution includes Web site design and development, e-commerce technology, managed hosting, order fulfillment, customer service, merchandising and order management, online merchandising, customer relationship management, content development and online marketing. The company operates either all or a portion of the e-commerce businesses for approximately 45 partners.
About Sears
Sears, Roebuck and Co. is a leading broadline retailer providing merchandise and related services. With revenues in 2003 of $41.1 billion, the company offers its wide range of home merchandise, apparel and automotive products and services through more than 2,300 Sears-branded and affiliated stores in the U.S. and Canada, which includes approximately 870 full-line and 1,100 specialty stores in the U.S. Sears also offers a variety of merchandise and services through sears.com, landsend.com and specialty catalogs. Sears is the only retailer where consumers can find each of the Kenmore, Craftsman, DieHard and Lands' End brands together - among the most trusted and preferred brands in the U.S. The company is the largest provider of product repair services with more than 14 million service calls made annually.
Forward-Looking Statements
All statements made in this release other than statements of historical fact are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "should," "guidance," "potential," "continue," "project," "forecast," "confident," "prospects," and similar expressions typically are used to identify forward- looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of GSI Commerce and the industries and markets in which GSI Commerce operates. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. Factors which may affect GSI Commerce's business, financial condition and operating results include the effects of changes in the economy, consumer spending, the financial markets and the industries in which GSI Commerce and its partners operate, changes affecting the Internet and e-commerce, the ability of GSI Commerce to develop and maintain relationships with strategic partners and suppliers and the timing of its establishment or extension of its relationships with strategic partners, the ability of GSI Commerce to timely and successfully develop, maintain and protect its technology and product and service offerings and execute operationally, the ability of GSI Commerce to attract and retain qualified personnel, the ability of GSI Commerce to successfully integrate its acquisitions of other businesses, if any, and the performance of acquired businesses. More information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the Securities and Exchange Commission. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements, except as otherwise specifically stated by GSI Commerce.
Contacts: Greg Ryan Michael Conn Director, Corp. Communications Senior Vice President Corp. Development tel: 610-491-7294 tel: 610-491-7002 fax: 610-265-2866 fax: 610-265-7302 e-mail: ryang@gsicommerce.com e-mail: connm@gsicommerce.com
GSI Commerce, Inc.
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