PFSweb Signs Extension with Two Large Service Fee Clients
March 26 2008 - 7:55AM
Business Wire
PFSweb, Inc. (Nasdaq: PFSW), a global provider of end-to-end web
commerce solutions for leading online retailers and manufacturers,
today announced that it has signed extensions with two large brand
name Service Fee clients. The estimated aggregate value of both
deals is estimated to be worth approximately $18 million in service
fees, based on current client projections, over the terms of the
agreements. It is currently expected that both renewal agreements
will utilize existing infrastructure and will not require
additional capital investments. First, PFSweb signed a three-year
renewal of an existing contract with a Fortune 500 consumer
products client. Under the terms of the extension, PFSweb will
continue to provide inventory management, fulfillment, reverse
logistics and transportation management from its distribution
facility in Southaven, Mississippi. Second, PFSweb signed a
one-year extension of an existing contract with a large media
client. Under the terms of the extension, PFSweb will provide
inventory management, fulfillment and reverse logistics from its
Southaven facility and call center support from its Plano, Texas
headquarters. Mike Willoughby, President of PFSweb�s Services
Division, stated, �The extension of these agreements validates our
capabilities and Service Fee model. We are proud of our ability to
establish long-term relationships with all of our clients, as it is
a testament to our ability to implement proven solutions and help
support the growth of Fortune 1,000 brands.� Known as �the brand
behind the brand,� PFSweb provides end-to-end web commerce
solutions including professional services, technology, customer
care and supply chain solutions that are custom tailored to unique
client requirements. PFSweb fulfills more than $2.6 billion
annually in merchandise and transactions from world-class
distribution centers in Memphis, Tenn.; Southaven, Miss.;
Grapevine, Texas; Toronto, Canada; and Liege, Belgium. 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 eCommerce services. The company serves a
multitude of industries and company types, including such clients
as LEGO, Riverbed, Fathead, CHiA�SSO, MARS Drinks North America
(formerly FLAVIA� Beverage Systems), Hewlett-Packard, International
Business Machines, Hawker Beechcraft Corp. (formerly Raytheon
Aircraft Company), Rene Furterer USA, Roots Canada Ltd. 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 manufacturer recertified
brand-name technology and consumer electronics for consumers and
small to medium size business buyers. The eCOST.com brand markets
approximately 110,000 different products from leading manufacturers
such as Sony, JVC, Canon, Hewlett-Packard, Denon, Onkyo, Garmin,
Panasonic, Toshiba and Microsoft primarily over the Internet and
through direct marketing. To find out more about PFSweb, Inc.
(NASDAQ: PFSW), visit the company's websites at
http://www.pfsweb.com and http://www.ecost.com. The matters
discussed herein�include forward-looking information under the
Private Securities Litigation Reform Act of 1995, which 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,
2006 and Form 10-Q for the quarter ended September 30, 2007
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. These Risk Factors
include the risk of contract terminations. 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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