Global Sports, Inc. Announces Intention to Change Corporate Name to GSI Commerce, INC.
GLOBAL SPORTS, INC. (NASDAQ: GSPT), a leading outsource solution provider for e-commerce, today announced its intention to change the company’s corporate name to GSI Commerce, Inc. effective in May 2002, pending shareholder approval at the company’s annual meeting. Global Sports has evolved from providing outsource e-commerce solutions for sporting goods companies to serving other vertical categories, including general merchandise retailers and media companies, and, through the pending acquisition of Ashford.com, Global Sports will serve the jewelry and luxury goods category. The Global Sports’ name has become limiting, given the expanded focus of the company’s business. The new name, GSI Commerce, will maintain the corporate recognition already developed by Global Sports while also accommodating the company’s broadening focus. If Global Sports’ shareholders approve the new name, the company is also expected to change its symbol on the NASDAQ Stock Market to “GSIC”.
Michael G. Rubin, Chairman and Chief Executive Officer of Global Sports, Inc, commented on the name change, “We are excited about changing our corporate name to GSI Commerce, Inc. to better reflect our expansion beyond the sporting goods industry in which we started. We are pleased that the new name maintains the heritage we have developed over the last three years as Global Sports.”
About Global Sports
Global Sports is a leading outsource solution provider for e-commerce. The company develops and operates e-commerce businesses for retailers, media companies, television networks, cable channels, and professional sports organizations. The Global Sports’ platform includes Web site design and development, e-commerce technology, customer service, fulfillment, merchandising, content development and management, and online and database marketing.
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”, “may”, “plan”, “will”, “would”, “should”, “guidance”, “potential”, “continue”, “project”, “forecast” 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 are 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 industries in which Global Sports operates, changes affecting the Internet, e-commerce and direct response marketing, 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 launch new businesses and integrate acquisitions of other businesses. 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.
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Contact:
Contact:
Patricia Henderson
Corporate Communications
(610) 491-7013
hendersonp@globalsports.com
