Dreams December E-Commerce Revenues Up 27% to $37.4 Million
PLANTATION, Fla.--(BUSINESS WIRE)-- Dreams, Inc. (NYSE Amex: DRJ), a technology driven, multi-channel retailer focused on the licensed sports products industry, has generated $37.4 million in revenues through its e-commerce division for the month of December 2011, an increase of 27% from the same month a year ago.
The increase was attributable to organic growth with the companys flagship site, www.FansEdge.com, combined with an expanding portfolio of web syndication clients. These strong results follow the 32% and 30% increase in e-commerce revenues for October and November 2011, respectively.
We have completed another record holiday season defined by three straight months of solid double-digit e-commerce revenue growth, said Ross Tannenbaum, Dreams president & CEO. These results are attributable to continued gains in market share and our fully-integrated e-commerce platform which enables our partners to capture a much larger revenue stream than ever before.
The companys e-commerce business accounts for a majority of total revenues. Management will provide its full financial results in the companys fourth quarter earnings, which will be announced at a later date.
About Dreams, Inc.
Dreams, Inc. (NYSE Amex: DRJ) is a technology driven, multi-channel retailer focused on the sports licensed products industry. For more information, please visit www.DreamsCorp.com.
Forward Looking Statements
Statements contained in this press release, which are not historical facts, are forward looking statements. The forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements are indicated by words or phrases such as anticipates, projects, management believes, Dreams believes, intends, expects, and similar words or phrases. Such factors include, among others, the following: competition; seasonality; success of operating initiatives; new product development and introduction schedules; acceptance of new product offerings; franchise sales; advertising and promotional efforts; adverse publicity; expansion of the franchise chain; availability, locations and terms of sites for franchise development; changes in business strategy or development plans; availability and terms of capital including the continuing availability of our credit facility with Regions Bank or a similar facility with another financial institution; labor and employee benefit costs; changes in government regulations; and other factors particular to the company.
David M. Greene, 954-377-0002
Senior Vice President
Liolios Group, Inc.
Scott Liolios or Cody Slach, 949-574-3860
Source: Dreams, Inc.Copyright Business Wire 2012