1999 Christmas Online Shopping Volume Estimates Exceeded; Hanover Brands Apparel and Home Furnishings Brands Strong Sellers
WEEHAWKEN, N.J., Dec. 28 /PRNewswire/ -- Leading e-tailer and specialty cataloger
Hanover Direct, Inc. (Amex: HNV) reports that Holiday '99 sales for its on-line brands
exceeded even the most liberal of the industry and analyst estimates. While not yet
fully tallied, it is obvious that consumer interest in online shopping for apparel, home
furnishings and gifts has significantly increased since last year.
The 14 Internet brands of Hanover's Brands division have experienced heavy on-line
traffic all season; more than 3.4 million individuals have visited Hanover's online sites
since Thanksgiving -- with 1 out of 10 customer transactions generated via the Internet
and, in some instances, such as the Undergear catalog, 1 out of 5 transactions were
generated from the Internet.
"The online shopping season started at Thanksgiving, traditionally the heaviest
shopping time of the year, and showed no sign of slowing down since," stated Rakesh K.
Kaul, President and CEO of Hanover Direct, Inc. "Online consumers' expectations
regarding fast delivery resulted in orders being placed closer to Christmas day. This
pattern more closely parallels the trend traditionally seen at retail of consumers
shopping at the last minute."
Kaul added, "Demand in the 1999 Christmas season has surpassed even our estimates. If
1998 was called the "Year of E-Commerce" and 1999 broke all records, 2000 is beyond
comprehension."
"The data collected from this holiday season indicates a change in what consumers are
purchasing online," stated Richard Hoffmann, President of the Hanover Brands division.
"Non-traditional e-commerce categories such as apparel and home furnishings have been
some of the strongest sellers. Everyone has known that books, videos and music sell well
online, what we have proven is that apparel, home furnishings and gifts sell equally as
well."
While certain toys obviously rank at the top of the list for most sought-after items
this season, home furnishings have also experienced higher demand this year. Items,
particularly those associated with Christmas and the Millennium, have experienced heavy
demand, often selling out. Winning items from Domestications, Kitchen & Home and The
Company Store included: Pokeman bedding and cotton throws; holiday decorating ornaments,
millennium glassware, electric buffet warming trays and party sized coffee urns; as well
as down comforters, sleepwear, quilts, slippers and flannel sheets. Silhouettes,
featuring fashion apparel for the plus-sized woman, also saw heavy demand for beaded
dresses, silk sweater sets and leather coats while International Male, featuring
contemporary apparel for men, saw heavy demand for Times Square shirts and leather trench
coats, fake fur jeans, and fleece snugglers. Undergear had strong sales in extreme
briefs, high country snugglers, hologram muscle shirts, eye gels and body sculpting
creams.
"It seems our customers are spending Y2K at home, often entertaining, yet well
prepared for the new millennium," said Hoffmann.
Hanover Direct, Inc. (Amex: HNV), and its business units, provide quality, branded
merchandise through a portfolio of catalogs and e-commerce platforms to consumers, as
well as a comprehensive range of Internet, e-commerce, and fulfillment services to
businesses. The Hanover Brands division is comprised of the Company's catalog and
e-commerce web site portfolio of home fashions, apparel and gift brands, including
Domestications, The Company Store, Turiya, Domestications Kitchen & Garden, Kitchen &
Home, Encore, Improvements, The Safety Zone, Silhouettes, Tweeds, International Male,
Undergear, and Gump's By Mail. Hanover Direct is the exclusive distributor of the
Compagnie de la Chine brand in North America; the Company owns Gump's, a retail store
based in San Francisco; and, the Company has a majority equity stake in Always In
Style(R). Each brand can be accessed on the Internet individually by name. The erizon
Web Services division is comprised of Keystone Internet Services
(http://www.keystoneinternet.com), the Company's third party, end-to-end, fulfillment,
logistics and e-care provider and Desius, the Company's joint venture with RS Software
India, Limited, offering 24/7-web shop services and e-commerce systems development. The
division also services the logistical, IT and fulfillment needs of the Hanover Brands
division. Information on Hanover Direct, including each of its divisions, can be
accessed on the Internet at hanoverdirect.com.
/CONTACT: Brian C. Harriss, Sr. VP - Chief Financial Officer of Hanover Direct,
Inc., 201-272-3224; or Paula Zwerdling, Managing Director, Public Relations of AGG
International, 212-869-8230, paula@aggintl.com, for Hanover Direct, Inc./
08:00 EST |
