The Salt Lake Tribune Business Briefs Column
Dec 27, 2002 (The Salt Lake Tribune - Knight Ridder/Tribune Business News via
COMTEX) -- OVERSTOCK SALES BOOM: Overstock.com Inc. announced Thursday that its
2002 holiday season consumer spending was up by 164 percent over its 2001
holiday season.
The Salt Lake City-based Internet retail clearance site reported its customers
clicked through $25.2 million from the official start of the holiday shopping
season Nov. 29 through Christmas Day, versus the $9.5 million spent during
2001's commercial yuletide.
"E-commerce results will be surprisingly good this year for the entire industry,
especially given otherwise lackluster results from offline retailers," said
Overstock.com chief executive Patrick Byrne said.
He contends that the ease of price comparison and convenience to shoppers will
continue to make the Web more and more the place to shop.
Overstock.com's biggest product growth occurred in the book, DVD and CD
categories, which the company recently relaunched. The company also showed
strong sales growth in consumer electronics, watches and apparel.
-- Bob Mims
EAGLE NUGGETS LAND: Golden Eagle International Inc. said Thursday it will mark a
gold-production milestone of 1,000 troy ounces by giving some of that precious
yellow metal away.
Five investors will be selected randomly Jan. 7 to receive the commemorative
gold nuggets from the Draper-based company's Cangalli, Bolivia, gold mining
property.
The mine, where the company's 1,000 ounces production goal was reached on Sept.
30, is located in the heart of the rich Tipuani Gold District.
Terry Turner, Golden Eagle president and chief executive, said the nuggets also
mark gold's Dec. 19 trading milestone, when the precious metal topped the $350
per ounce barrier, going for up to $352.60.
"We have achieved many, important milestones this year," Turner said. "We are
pleased that we can share the excitement that we have created in Bolivia. . . .
"
In addition to the production record, reached midway through the mine's third
month of operation under Golden Eagle, the company doubled production capacity
from 1,000 tons per day to 2,000 tons per day.
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(c) 2002, The Salt Lake Tribune. Distributed by Knight Ridder/Tribune Business
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