To: Winston Kim who wrote (21675 ) 12/3/1998 4:08:00 PM From: brent gephart Read Replies (1) | Respond to of 119973
Online sales start strong by Margaret Kane, ZDNet Thursday December 3 3:13 PM ET As major retailers began reporting results for November, the start of the holiday sales rush, their online counterparts followed suit, touting the predicted huge jumps from the Thanksgiving weekend. Online retailers issued a host of statements documenting strong e-commerce sales, but contrary to the formula shares didn't respond. In recent weeks, if a company mentioned Web and e-commerce in the same news release, its stock went skyrocketing. Take a gander at Books-a-Million Inc. (Nasdaq: BAMM) and dELiA*s Inc. (Nasdaq: DLIA) for a recent examples. Online software seller Beyond.com Inc. (Nasdaq: BYND) said that Thanksgiving weekend sales jumped 700 percent. Sales of game software rose 200 percent from the four previous weekends, and educational software rose 250 percent, the company said, although it did not give specific sales figures. Internet computer store Cyberian Outpost Inc. (Nasdaq:COOL) hit its first $1 million day on Monday, following a Thanksgiving weekend which saw orders nine times higher than the previous year. The company recently launched a television and print ad campaign touting the site. "We are extremely pleased by our strong performance over the Thanksgiving weekend," CEO Darryl Peck said in a release. Analysts have pegged this as the year when Internet commerce really kicks off, and the early reports seem to be backing them up. Jupiter Communications has predicted that holiday sales alone will hit $2.3 billion. And it's not just "pure-play" Internet firms that are benefiting. The Sharper Image Corp. (Nasdaq:SHRP) said online sales rose 436 percent in November. The specialty retailer, which posted total revenues of $31.4 million for the month, said it got particularly good results from targeted emails. Big Entertainment Inc. (Nasdaq:BIGE) said today that it was putting its mall stores up for sale to focus on electronic commerce. The company specializes in movie and entertainment products, and has placement deals with USAToday and Time-Warner Inc.'s RoadRunner high-speed Internet service. In a news release, the company said that Thanksgiving sales online had "substantially" exceeded expectations, and selling the mall stores would allow it to eliminate the "substantial overhead associated with a traditional store-based retail business." The news didn't help the company, however. Its stock fell $1 7/8 to $9 3/4 after announcing the move.