PFSWEB INC filed this 8-K on 12/19/2011.
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Exhibit 99.1

 

Company Contact:		Investor Contact:
Mark C. Layton		Todd Fromer / Garth Russell
Chief Executive Officer		Investor Relations
or Thomas J. Madden		KCSA Strategic Communications
Chief Financial Officer		(212) 896-1215 / (212) 896-1250
(972) 881-2900		tfromer@kcsa.com / grussell@kcsa.com

PFSweb Announces Stock Repurchase Program;

Board Approves Buyback of Up to $1 Million

PLANO, Texas, December 16, 2011– PFSweb, Inc. (Nasdaq: PFSW), an international provider of end-to-end eCommerce solutions, today announced a board approved stock repurchase program. In a vote of confidence in the Company’s future, the directors of PFSweb, Inc (Nasdaq: PFSW) have authorized the repurchase of up to $1 million of the outstanding shares of its common stock.

“The Board of Directors believes that the Company’s common stock is undervalued in the marketplace and represents an excellent investment at its recent trading price,” said Mark Layton, Chairman and Chief Executive Officer of PFSweb. “This share repurchase program clearly demonstrates the confidence of the directors and management in the long-term prospects of the Company and is consistent with the Company’s continuing efforts to enhance shareholder value. Upon completion of the Stock Repurchase Program, the Company may authorize additional repurchases.”

The Board of Directors approved the buyback of an aggregate amount of shares not to exceed $1 million. The Company currently has 12.8 million shares outstanding. The Company may repurchase the shares, from time to time, in the open market or in privately negotiated transactions in compliance with the Securities and Exchange Commission’s Rule 10-b-18, subject to market conditions, applicable legal requirements and other factors, and may terminate the program at any time.

About PFSweb Inc.

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, LEGO, 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 Plano, TX with additional locations in Tennessee, Mississippi, Canada, Belgium, and the Philippines.