Licensed sports products retailer Dreams (NYSE Amex:DRJ) reported its online revenues for the month of December, 2010 increased 40% year-over-year, to US$29.4 million. In December 2009 the company reported online revenues of US$21 million.
"Our flagship brand, www.FansEdge.com continues to differentiate itself in the marketplace by consistently delivering an extremely favorable user experience. This dynamic, in concert with our ever expanding web syndication portfolio has been the backdrop for these record on-line results," declared Ross Tannenbaum, Dreams' President & CEO.
The company's e-commerce division, which includes FansEdge.com and other websites, has been an increasing focus for the firm. The division manages over 65 online fan shops, sells licensed sports merchandise from the NFL, NHL, NBA, MLB, and NCAA.
This growing success is also reflective of the company's web syndication platform, a market which it entered in late 2008 by rolling out "Dreams Retail Solution", a host of e-commerce support services including custom site design, inventory, management and marketing. At third quarter end, 70 companies signed up, including Walmart, JC Penney and Sears, as well as NBC Sports and AOL Sports.
Merriman Capital has a price target of $4.50-$6.00 on Dreams.