March 15, 2011
GSI Commerce Inc., King of Prussia, said it authorized a repurchase of up to $50 million of its outstanding shares over the next two years. The buyback extends through March 14, 2013, and was contingent on the completion of GSI's acquisition of Fanatics Inc. That deal - with terms that were not disclosed - has closed, GSI said. Fanatics operates more than 250 e-commerce websites. GSI also said it has closed a $400 million credit agreement. The five-year agreement replaces a $150 million revolving credit facility and includes a $285 million revolving line of credit and a $115 million term loan.
November 30, 2010 |
From her headquarters office at online retail operator GSI Commerce Inc. , Fiona Dias can see the paved parking that makes possible the King of Prussia shopping complex. "The mall was packed Black Friday," said Dias, "but I didn't see tons of shopping bags. " The National Retail Federation , in a survey of 4,300 Americans, said the number of people shopping online has grown by a third so far this Christmas-shopping season compared with last year. Actual online sales were up a more modest 9 percent, estimated analyst Marianne R. Wolk , who covers Amazon.
November 22, 2010
The Center for Autism , a nonprofit autism treatment and evaluation center, has named Silvana Battaglia , John C. Bickel , and Margaret C. Souders to its board of directors. Battaglia is senior vice president of human resources for Day & Zimmerman Group Inc. Bickel is the president of Hollister Construction Services' Pennsylvania office. Souders is on the faculty at the University of Pennsylvania's School of Nursing and has a clinical appointment as a pediatric nurse practitioner for the Children's Hospital of Philadelphia Clinical Genetics Center and Center for Autism Research.
November 17, 2010 |
Store owners, job-hunters, investors all want this Christmas shopping season to be busier than last year. Shares of Dick's Sporting Goods jumped 12 percent Tuesday as the Pittsburgh-based national chain posted modestly higher sales in its third-quarter report. Same-store sales at more than 400 Dick's stores rose 5 percent over 2009 levels. Online sales jumped a more-exciting 82 percent, chief financial officer Timothy Kullman told investors. Wall Street connects online sales with low costs and high profits.
May 12, 2010
GSI Commerce Inc., King of Prussia, said Wednesday it acquired VendorNet, a Boynton Beach, Fla., provider of software to manage e-commerce supply-chain solutions, such as inventory management. VendorNet's clients include the Franklin Mint, Neiman Marcus, David's Bridal, Spiegel, Nine West and Lands' End. The purchase price was not disclosed, but privately held VendorNet has 32 employees, a GSI Commerce spokeswoman said. GSI operates websites for retailers, manufacturers and other companies.
January 25, 2008 |
Web retailer GSI Commerce Inc. said yesterday that it had acquired a Massachusetts firm in a $157 million deal that gives the King of Prussia company a foothold in e-mail-based marketing. The acquired company, privately held e-Dialog Inc., of Lexington, Mass., had revenue of about $34 million for the 12 months ended Sept. 30. GSI said yesterday that it expected its own 2007 revenue to be in the range of $748 million to $750 million. "The acquisition will significantly expand the breadth and depth of GSI's interactive-marketing-services capabilities," GSI said in a statement.
July 2, 2007 |
The Theatre Alliance of Greater Philadelphia named Margie Salvante executive director. Salvante was previously director of education for Roundabout Theatre Co. in New York. PointRoll Inc., a West Conshohocken online advertising subsidiary of Gannett Co. Inc., promoted Becky Churilla to director of marketing from senior brand manager. Peter Kelly will take over in September as vice president for finance and chief financial officer at UGI Corp., the energy holding company in Valley Forge.
August 25, 2004 |
If you shop much online, it's possible you've shopped with GSI Commerce Inc. It's also likely you didn't know it at the time. Doing e-commerce work behind the scenes for dozens of well-known retailers and sports organizations has allowed the King of Prussia company not only to survive the tech downturn, but to grow. Today, GSI - which creates and manages e-commerce Web sites and also handles the shipping of merchandise to consumers - has expanded well beyond its original niche, sporting goods, to include retailers Ace Hardware Corp.
May 27, 2004 |
GSI Commerce Inc., a provider of Internet marketing services to apparel firms, hardware stores, sports teams and sporting-goods concerns, said it had bought a four-story King of Prussia building that would be its corporate headquarters. The 104,000-square-foot structure, purchased for $17 million, at 935 First Ave., will house 400 GSI employees, including executive, financial, engineering, technical, creative design, marketing and sales personnel. It will be nearly double the size of the headquarters it replaces at 1075 First Ave. "We have people piled up on top of each other now," said Greg Ryan, GSI corporate communications director.