Dreams grows e-commerce revenues by 32% in October
Licensed sports product retailer Dreams (AMEX:DRJ) said Wednesday that e-commerce revenues for the month of October rose 32 percent year-over-year to $9.1 million, driven by organic growth and an expanding portfolio of web syndication clients.
The company's e-commerce division, which includes its flagship FansEdge.com and other websites, has been an increasing focus for the firm. The division manages over 65 online fan shops, selling licensed sports merchandise from the NFL, NHL, NBA, MLB, and NCAA.
Dreams said that during the month of October, growth was attributable to its flagship site, FansEdge.com.
"We continue to see an increase in online purchases from fans who demand a greater range of sports merchandise," said president and CEO, Ross Tannenbaum.
In addition, the company is bolstering its list of ever-expanding web syndication platform, a market which it entered in late 2008 by rolling out "Dreams Retail Solution", a host of e-commerce support services including custom site design, inventory, management and marketing.
Clients of the platform currently include Walmart, JC Penney and Sears, as well as NBC Sports and AOL Sports.
Tannenbaum added: "We are very well positioned to take further market share with our fully-integrated e-commerce platform through the remainder of this year and beyond."
The Florida-based company's e-commerce business accounts for a majority of total revenues.
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