Provide Commerce, Inc. Responds to Florists' Transworld Delivery's Lawsuit
24 Agosto 2005 - 7:02PM
Business Wire
Provide Commerce, Inc. (Nasdaq: PRVD), an e-commerce marketplace of
websites for perishable goods, today responded to Florists'
Transworld Delivery's Lawsuit. The Company believes that the
lawsuit is without merit and plans to aggressively defend it. Bill
Strauss, Chief Executive Officer of Provide Commerce, stated, "We
remain focused on our customers and will vigorously defend our
direct business model. Our unique model is supported by our 7-day
freshness guarantee - and it is this model that has greatly
contributed to our ability to effectively balance growth and
profitability. Furthermore, we believe that the ProFlowers' model
provides the best value and experience for customers as evidenced
by our industry leading customer satisfaction scores." About
Provide Commerce, Inc. Provide Commerce(SM) operates an e-commerce
marketplace of websites for perishable goods that consistently
delivers fresh, high-quality products direct from the supplier to
the customer at competitive prices. The Company's platform combines
an online storefront, proprietary supply chain management
technology and established supplier relationships to create a
market platform that bypasses traditional supply chains of
wholesalers, distributors and retailers. Provide Commerce launched
its marketplace in 1998 to sell and deliver fresh cut flowers for
everyday and special occasions such as Valentine's Day, Easter,
Mother's Day, birthday and anniversary events, through its
ProFlowers(R) brand and website, www.proflowers.com. Provide
Commerce also offers fresh fruit and premium meat direct from the
supplier through its Gourmet Food Business Unit. To date, these
offerings consist of Cherry Moon Farms(SM),
www.cherrymoonfarms.com, and Uptown Prime(R), www.uptownprime.com.
For more information, please visit www.prvd.com. Forward-looking
Statements Statements in this press release, other than historical
information, may be "forward-looking" in nature within the meaning
of Section 21E the Private Securities Litigation Reform Act of 1995
and are subject to various risks, uncertainties and assumptions.
These statements are based on management's current expectations,
estimates and projections about Provide Commerce and its industry
and include, but are not limited to, its ability to successfully
defend ongoing current or future lawsuits, to manage overall
customer satisfaction numbers and retention, to maintain its
overall business and market penetration, to leverage its business
model and to effectively balance Company growth and profitability.
These statements involve risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the applicable statements. The risks, uncertainties and
assumptions that may affect Provide Commerce, its operating results
and your investments, include, but are not limited to, receipt of
additional lawsuits brought against the Company by competitors,
regulatory authorities or other third parties; unfavorable outcomes
delivered in any Company lawsuits; fluctuation in quarterly and
annual results; Provide Commerce's ability to attain and maintain
long-term customer satisfaction; its ability to meet projected
financial results, manage the seasonality of its business and scale
existing infrastructure expansion of its core floral business
within the floral business as well as into other perishable product
categories; its ability to manage challenges in customer retention
and translation of perceived customer loyalty into financial
results; its ability to maximize leverage in the Company's cost
structure; as well as the factors disclosed in the Company's
filings with the U.S. Securities and Exchange Commission, available
via Provide Commerce's website at www.prvd.com. The Company
undertakes no obligation to update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release.
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