eCOST.com Moves Headquarters From Torrance To El Segundo, California; Facility Move Signals Ongoing Integration Progress with P
June 13 2006 - 8:00AM
Business Wire
PFSweb, Inc. (Nasdaq: PFSW) today announced that its wholly owned
subsidiary, eCOST.com, a leading online discount retailer, has
moved its headquarters from Torrance, Calif. to El Segundo, Calif.
signifying its ongoing integration with PFSweb and efforts to
streamline costs and realize efficiencies. The Pacific Corporate
Towers facility in El Segundo will provide over 8,000 square feet
of office space for the online retailer. This move is estimated to
provide eCOST.com a savings of approximately $20,000 per month.
"This is another step forward towards complete integration between
eCOST and PFSweb," said Mark Layton, CEO of PFSweb. "This move is
another component of our efforts in driving total annual savings of
$4-5 million in operating costs." About PFSweb, Inc. PFSweb
develops and deploys integrated business infrastructure solutions
and fulfillment services for Fortune 1000, Global 2000 and brand
name companies, including third party logistics, call center
support and e-commerce services. The company serves a multitude of
industries and company types, including such clients as Adaptec,
CHiA'SSO, FLAVIA(R) Beverage Systems, Hewlett-Packard,
International Business Machines, Nokia, Pfizer, Inc., Raytheon
Aircraft Company, Rene Furterer USA, Roots Canada Ltd., The
Smithsonian Institution and Xerox. Through its wholly owned
eCOST.com subsidiary, PFSweb also serves as a leading
multi-category online discount retailer of high-quality new,
"close-out" and refurbished brand-name merchandise for consumers
and small business buyers. The eCOST.com brand markets more than
100,000 different products from leading manufacturers such as
Apple, Canon, Citizen, Denon, Hewlett-Packard, Nikon, Onkyo, Seiko,
Sony, and Toshiba primarily over the Internet and through direct
marketing. For more information, please visit the company's
websites at http://www.pfsweb.com and http://www.ecost.com. The
matters discussed herein consist of forward-looking information
under the Private Securities Litigation Reform Act of 1995 and is
subject to and involves risks and uncertainties, which could cause
actual results to differ materially from the forward-looking
information. PFSweb's Annual Report on Form 10-K for the year ended
December 31, 2005 and Form 10-Q for the quarter ended March 31,
2006 identify certain factors that could cause actual results to
differ materially from those projected in any forward looking
statements made and investors are advised to review the Annual and
Quarterly Reports and the Risk Factors described therein. PFSweb
undertakes no obligation to update publicly any forward-looking
statement for any reason, even if new information becomes available
or other events occur in the future. There may be additional risks
that we do not currently view as material or that are not presently
known.
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