Publicly traded PFSweb, a Plano, Texas-based company that builds and operates websites for retailers, has renewed its $12.5 million asset-based financing facility with Comerica Bank. The agreement, which extends through March 2014, features terms consistent with those it’s currently enjoying.
PFSweb, Inc. (Nasdaq: PFSW), an international provider of end-to-end eCommerce solutions, announced today that it has renewed its $12.5 million asset based financing facility with Comerica Bank through March 2014 on terms consistent with the current agreement.
“We expect that this renewed facility, combined with our solid balance sheet and liquidity, will continue to position us to take advantage of the growing demand for our suite of eCommerce solutions.”
“We are pleased to continue our relationship with Comerica, which started in 2003,” said Tom Madden, PFSweb’s Chief Financial Officer and Chief Accounting Officer. “We expect that this renewed facility, combined with our solid balance sheet and liquidity, will continue to position us to take advantage of the growing demand for our suite of eCommerce solutions.”
Iconic brands engage PFSweb to enable their eCommerce initiatives. PFSweb’s End2End eCommerce® solution includes interactive marketing services, robust eCommerce technology, global fulfillment and logistics, high-touch customer care, financial services, and order management. PFSweb’s eCommerce solutions provide international reach and expertise in both direct-to-consumer and business-to-business initiatives, supporting organizations across multiple industries including Procter & Gamble, L’Oreal, LEGO, Columbia Sportswear, Sorel, Carter’s, Lucky Brand Jeans, kate spade new york, Juicy Couture, AAFES, Riverbed, Ricoh, Hawker Beechcraft Corp, Roots Canada Ltd. and Xerox. PFSweb is headquartered in Allen, TX with additional locations in Tennessee, Mississippi, Canada, Belgium, and the Philippines.
To find out more about PFSweb, Inc. (NASDAQ: PFSW), visit the company’s website at http://www.PFSweb.com.
The matters discussed herein consist of forward-looking information under the Private Securities Litigation Reform Act of 1995 and is subject to and involves risks and uncertainties, which could cause actual results to differ materially from the forward-looking information. PFSweb’s Annual Report on Form 10-K for the year ended December 31, 2011 and Quarterly Report on Form 10-Q for the three and six months ended June 30, 2012 identify certain factors that could cause actual results to differ materially from those projected in any forward looking statements made and investors are advised to review the Annual and Quarterly Reports and the Risk Factors described therein. PFSweb undertakes no obligation to update publicly any forward-looking statement for any reason, even if new information becomes available or other events occur in the future. There may be additional risks that we do not currently view as material or that are not presently known.