Modell's Sporting Goods and Global Sports Enter E-Commerce Agreement
GLOBAL SPORTS, INC. (NASDAQ: GSPT), a leading developer and operator of e-commerce businesses, and MODELL’S SPORTING GOODS, the nation’s oldest, family-owned and operated, retailer of sporting goods, apparel, and brand name athletic footwear, announced today that Global Sports has been selected to develop and operate the new e-commerce sporting goods store at www.modells.com. The new site is expected to launch before the holiday season.
According to Sports Trend magazine, Modell’s Sporting Goods is the 6th largest full-line sporting goods retailer in the United States with annual sales of approximately $436.0 million in 2000. The company currently operates 89 stores in the Northeast from New York to the Washington D.C. metropolitan area. Modell’s had previously operated its e-commerce store utilizing a combination of internal resources and third-party relationships. The new www.modells.com will use Global Sports’ scalable e-commerce solution, enabling Modell’s Sporting Goods to remain focused on growing its successful retail business. Modell’s will continue to utilize its well-known brand and advertising efforts to drive traffic to the www.modells.com site including promotion in its newspaper circulars, radio advertisements, and billboards. In addition, Modell’s intends to leverage its well-known sports marketing efforts, including in-stadium signage for all four major sports leagues in five states, to promote the online store.
Mitchell Modell, President & CEO of Modell’s Sporting Goods, commented on the alliance, “Modell’s Sporting Goods is extremely committed to e-commerce. We have extensively evaluated the alternatives available to us in e-commerce, and moving forward, Global Sports is the best solution for our business. Its proven record in e-commerce, extensive product selection and award-winning customer service will offer our customers the best online shopping experience possible.”
Michael G. Rubin, Chairman & CEO of Global Sports, Inc., said, “We are delighted to be selected to develop and operate the new www.modells.com store. Modell’s Sporting Goods is one of the largest full-line sporting goods retailers in the United States and a true icon in the Northeast. In addition, through their extensive sports marketing with the leading teams in the region, Modell’s has gained a strong national reputation which we believe will translate into a great e-commerce business. We are also excited to see the continuing transition of retailers from existing e-commerce operations to Global Sports’ end-to-end solution, with Modell’s representing the seventh such occurrence this year.”
About Global Sports
Global Sports, Inc. (NASDAQ: GSPT) (www.globalsports.com) is a leading developer and operator of e-commerce businesses.
About Modell’s Sporting Goods
Modell’s Sporting Goods is the nation’s oldest, family-owned and operated, retailer of sporting goods, apparel, and brand name athletic footwear. Under the name Modell’s Sporting Goods, Henry Modell & Company, Inc. and its affiliates operate over 80 stores throughout New York, New Jersey, Pennsylvania, Delaware, Maryland and Virginia.
Forward-Looking Statements
All statements made in this release, other than statements of historical fact, are forward-looking statements. The words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “will”, “guidance”, and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of Global Sports and the industry and markets in which the company operates. Those statements are not guarantees of future performance and involve risks, uncertainties and assumptions which will be difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by those forward-looking statements. Factors which may affect Global Sports’ business, financial condition and operating results include the effects of changes in the economy, consumer spending, the stock market and the sporting goods industry generally, changes affecting the Internet and e-commerce, the ability of the company to maintain relationships with strategic partners and suppliers, the ability of the company to timely and successfully develop, maintain and protect its technology and product and service offerings and execute operationally, the ability of the company to attract and retain qualified personnel and the ability of the company to successfully integrate its recent acquisition of Fogdog, Inc. More information about potential factors that could affect Global Sports can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by Global Sports with the Securities and Exchange Commission. Global Sports expressly disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated by Global Sports.
# # #
Contact:
Global Sports Contact:
Patricia Henderson
(610) 491-7013
hendersonp@globalsports.com
Modell’s Sporting Goods Contact:
Lawrence Long
(212) 822-1096
larryl@msgmail.com
