US Internet grocery store Webvan.com has announced a preliminary forecast for Q4 2000 that shows a better-than-expected loss per share. Webvan Group Chairman and CEO George T Shaheen commented that this “is the direct result of the synergies realized from our acquisition of HomeGrocer.com and a significantly more efficient marketing spend.”
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Furthermore, revenues are expected to reach US$84m, “better than our earlier estimates for the period despite a general slowing of retail spending in the quarter.” Shaheen also pointed out that “internal capacity constraints and fewer first-time orders” characterised the period as “we reduced marketing expenditures and focused on customer retention and ordering frequency.”
The actual results for the Q4 of 2000 will be released on 25 January, together with full predictions for the oncoming results of 2001.
