KING OF PRUSSIA, Pa., Nov. 16, 2001 (PRIMEZONE) -- Global Sports, Inc. (Nasdaq:GSPT), a leading outsource solution provider for e-commerce, announced today that M. Jeffrey Branman was elected to its Board of Directors on October 23, 2001, expanding the total number of directors to eight.
Branman is president of Interactive Technology Partners (ITP), a financial advisor to Interactive Technology Holdings, L.L.C. (ITH) which is a joint venture of Comcast Corporation and QVC, Inc. ITH was formed in April 1999 to make equity investments in companies focused on technology and content for e-commerce and interactive television, leveraging the core strengths of the joint venture partners. Comcast Corporation, the third largest U.S. cable company, is principally involved in the development and operation of broadband cable networks, and in the provision of electronic commerce and programming content. QVC, Inc., a $3.8 billion company, is an e-commerce leader, marketing a wide variety of brand name products on television and through the Internet.
Prior to joining ITP, Branman was CEO of Footlocker.com, the Internet and direct marketing division of Foot Locker, Inc., as well as senior vice president of corporate development of the parent company. During Branman's time with Foot Locker, Inc., he led the restructuring of the company's worldwide business portfolio in the United States, Canada, Germany and Mexico.
Prior to joining Foot Locker, Inc., Branman was an investment banker focused on the retail industry for Financo, Inc., where he was a partner, and for CS First Boston, Inc., where he was head of the retail industry mergers & acquisitions group. Prior to joining CS First Boston, Branman was vice president of strategy for The May Department Stores Company. Branman began his business career with The Boston Consulting Group.
Branman is a graduate of the University of California, Berkeley and the Carnegie Mellon University Graduate School of Industrial Administration.
"Jeff is a great addition to our Board of Directors," stated Michael G. Rubin, chairman and chief executive officer of Global Sports, Inc. "Global Sports will benefit from his knowledge and expertise in online retailing, as well as his years of experience with some of the leading companies in the retail industry."
Branman said, "I'm delighted to be joining Global Sports' Board of Directors. Global Sports is experiencing tremendous growth in e-commerce, and I'm excited to work with the company as it continues its path of expansion."
About Global Sports
Global Sports is a leading outsource solution provider for e-commerce. The company develops and operates e-commerce businesses for retailers, media companies and professional sports organizations. The Global Sports' platform includes Web site design and development, e-commerce technology, customer service, fulfillment, merchandising, content development and management, and online and database marketing.
Forward-Looking Statements
All statements made in this release, other than statements of historical fact, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "should," "guidance," "potential," "continue" and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of Global Sports and the industry and markets in which the company operates. Those statements 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 those forward-looking statements. Factors which may affect Global Sports' business, financial condition and operating results include the effects of changes in the economy, consumer spending, 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 acquisitions of other businesses. More information about potential factors that could affect Global Sports can be found in its most recent Form 10-K, Form 10-Q 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 those forward-looking statements, except as otherwise specifically stated by Global Sports.