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The Sportsman's Guide Posts First $1,000,000.00 From Internet Sales
Fourth Quarter Internet Sales Represent Approximately 1.5% of Company Sales for the Quarter
SOUTH ST. PAUL, Minn., Jan. 7 /PRNewswire/ -- The Sportsman's Guide, Inc. (Nasdaq: SGDE - news) announced today that it has recorded its first $1 million in Internet sales. Of the total, $205,000 was recorded in the Company's third quarter ended September 27, 1998 and $716,000 was recorded in the fourth quarter ended January 3, 1999. The fourth quarter total represents approximately 1.5% of Company sales for the quarter. The Company's web site was first activated in the second quarter of 1998.
Gary Olen, Chairman and Chief Executive Officer of the Company stated, ''These results demonstrate the potential and the possibilities that Internet sales provide The Sportsman's Guide. Going forward we expect to drive more customers to our web site, increasing Internet sales dramatically and benefiting the Company by providing a more profitable medium than our traditional catalogs, which require printing and postage to reach the customer.''
Olen went on to note that the sales to date have been generated from individual merchandise offers as opposed to complete catalogs. The Company will begin posting complete catalogs on the site beginning in the first quarter of 1999.
''We are especially pleased with the feedback that we have received to date. Customers tell us they find our web site to be one of the Internet's easiest and most convenient to use,'' Olen concluded.
The Sportsman's Guide is a Catalog and Internet Company of value priced outdoor gear and general merchandise, with a special emphasis on hunting, shooting, camping and hiking. In addition to its Internet presence located at sportsmansguide.com, the Company annually distributes more than 70 million catalogs resulting in sales to over one million customers. In late December the Company was included in a listing of Internet ''E-tailers,'' e-tail.org, ''companies who have implemented electronic commerce sites to allow for the latest trend in retailing.''
This release contains forward looking statements which are subject to change based on various important factors, including but not limited to general economic conditions, a changing market environment for the Company's products and the market acceptance of the Company's catalogs and Internet related services. |
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