Leading Sporting Goods Retailer G.I. Joe's Forms e-commerce Alliance With Global Sports, Inc.
KING OF PRUSSIA, Pa. & WILSONVILLE, Ore.--March 2, 2001--Relaunched www.gijoes.com Web Site to Capitalize On Global Sports'
Broad Product Assortment and Scalable e-commerce Solution
GLOBAL SPORTS, INC. , a leading developer and operator of e-commerce sporting goods businesses, and G.I. JOE'S, INC., a leading full-line sporting goods and automotive retailer, announced today the formation of an e-commerce alliance.
Under the agreement, Global Sports will develop and operate the new www.gijoes.com online sporting goods store.
Since May 1997, G.I. Joe's has operated its own e-commerce Web site utilizing internal resources. G.I. Joe's has decided, however, that to generate a better return on investment for e-commerce, and to expand its e-commerce offering, the best course of action was to partner with Global Sports to develop and operate its e-commerce operations going forward.
"Aligning with Global Sports for our e-commerce business represents a real win-win for G.I. Joe's," stated Norm Daniels, President and CEO of G.I. Joe's, Inc. "We've been very impressed with Global Sports' ability to maintain the look-and-feel of their traditional retail partners' brands through their partners' e-commerce Web sites. Global Sports' broad product selection will bring tremendous value to our current and future customers as we reach out to new audiences via the Internet. Furthermore, this alliance with Global Sports will enable us to remain focused on our core retail business as we look to roll out new retail locations throughout the Pacific Northwest."
G.I. Joe's is one of the 15 largest full-line sporting goods retailers in the U.S., with 2000 sales of approximately $161 million. G.I. Joe's will continue to leverage its well-known brand name and substantial marketing budget to drive traffic to www.gijoes.com.
G.I. Joe's will also utilize its 17 current retail stores, and its forthcoming locations in Sherwood, Oregon and Seattle, Washington, to increase awareness of the new Web site. The new www.gijoes.com store is expected to launch in the spring of 2001.
Michael G. Rubin, Chairman and CEO of Global Sports, said, "This alliance with G.I. Joe's represents the continuation of our strategy to leverage the brick-and mortar brand names, marketing power and in-store relationships of the country's leading sporting goods retailers as we grow our business through the addition of complimentary new partners. The decision by G.I. Joe's to outsource their e-commerce business to Global Sports, rather than continue with their in-house solution, validates our business model and our demonstrated ability to execute for our partners and their customers."
About Global Sports
Global Sports, Inc. (www.globalsports.com) is a leading developer and operator of e-commerce businesses. Global Sports develops and operates the e-commerce sporting goods businesses of specialty retailers, general merchandisers, Internet companies, and media companies under exclusive long-term agreements.
About G.I. Joe's
Established in 1952, G.I. Joe's is a Wilsonville, Oregon-based retailer specializing in sporting goods, automotive, active and outdoor clothing, and footwear. G.I. Joe's has 17 full-line retail stores throughout Oregon and Washington.
Forward-Looking Statements
All statements in this release, other than statements of historical fact, are forward-looking statements. These forward-looking statements are based on current expectations, beliefs, assumptions, estimates and forecasts about the business of Global Sports and the industry and markets in which the company operates.
The statements in this release 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 these forward-looking statements.
Factors which may affect Global Sports business, financial condition and operating results include the effects of changes in the economy, the stock market and the sporting goods industry generally, changes affecting the Internet and e-commerce, 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 integrate its recent acquisition of Fogdog, Inc.
More information about potential factors that could affect Global Sports can be found in its most recent Form 10-Q, Form 10-K and Form S-4 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 these forward-looking statements.