Net revenue for the fourth quarter is expected to exceed $50million (B54m), compared to the average of analysts' expectations of $49.3m (B53m). Operating profit is expected to exceed $2m (B2.17m) versus the analysts' average of $0.6m (B0.65m).
For the fiscal year 2002 net revenue is expected to exceed $185m (B200m), compared to the average of analysts' expectations of $177.5m (B92m), with operating profit expected to exceed $10m (B10.65m) versus the average of analysts' expectations of $2.5m (B2.71m).
The company has now struck a deal outside the sports sector with Kmart Corporation, the second largest discount retailer in the United States, and Bluelight.com, the wholly owned e-commerce subsidiary of Kmart, to operate certain aspects of their overall e-commerce business.
Michael Rubin, Global Sports chairman and CEO commented: “Sporting goods is the foundation of Global Sports and remains a significant growth opportunity for our company. Being selected by one of the largest retailers in the country as their e-commerce partner… is a great validation of our overall business.''
Global Sport operates 21 e-commerce sporting goods businesses for retailers, media companies and professional sports teams, including The Sports Authority, The Athlete's Foot, QVC, Dick's Sporting Goods and Gart Sports.
Nasdaq-listed sporting goods e-commerce company Global Sports has provided guidance for the fourth quarter of 2001 and for the full year 2002 that is significantly better than the current average of analysts' expectations for those periods.
