SEC Filings Section 16 Filings Only
 
PFSWEB INC filed this 8-K on 11/16/2011.
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     PFSweb, Inc.         PFSW         Q3 2011 Earnings Call         Nov. 10, 2011   
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I would say that the atmosphere that I feel from our clients as it relates to results in traditional retail are pretty mustered, if you will, I mean they’re very guarded, I guess is a word I would use about what their expectations may be in traditional brick and mortar in the current economic environment, but very bullish about their direct-to-consumer strategies. And frankly the other thing that this environment has done is it has allowed to break down some of the barrier concerns that manufacturers may have had in competing with their traditional channels. And many of them have said I have to keep growing in order to insure my own financial health of our business. And as a result, I have to now basically stomach whatever concerns I may have had about how a traditional retail partner may have reacted to the fact that I’m going to compete with them direct online. Consumers are demanding it and manufacturers are responding to it. So I think the economic environment has actually provided a very — it’s a lot of components of the tailwind, I think that we’re seeing in the growth that we’re experiencing.

 

<Q – Marco Rodriguez – Stonegate Securities, Inc.>: Got it. And then in regard to the relocation cost that you guys incurred in the quarter, you mentioned that you’re expecting additional relocation costs over the next — I think you said last — next three quarters or so. Should we be expecting roughly the same level per quarter?

 

<A – Thomas Madden – PFSweb, Inc.>: Hadn’t really broken it out yet by quarter. There will be some level in each period. Some of it depends on the actual timing of when we do the relocation activities.

 

<A – Mark Layton – PFSweb, Inc.>: Yeah, I would say Marco, you probably expect quarters one – quarter one next year, based on our targeted timing right now will be heavier and some of that will spill into quarter two. Now the — our targeted move dates right now are near the end of Q1, so if we experience delays, some of those expenses may fall and actually shipped from one to two, so — but that’s kind of where we’re at right now.

 

<Q – Marco Rodriguez – Stonegate Securities, Inc.>: Okay. And then lastly with all the investing you’re doing here to ramp up for new clients that you’ve sign and expected new clients, is there an ability if something rather negative happens in the macro environment for you to pull that back rather quickly or do you have any commitments associated with that investing you’re currently doing?

 

<A – Mark Layton – PFSweb, Inc.>: Well, our model is we generally try to ensure that we have underlying client commitments for commitments that we make to facilities and things along that line. Now the reality is, is that you can’t do that with everything. So for example our headquarters facility is not a particular facility that can be tied to client contracts, because we’ve got basically our overhead environment in there and our technology development. Our people costs are variable. We have to make a very calculated decision in terms of the intellectual knowledge that these people have. So we would certainly for some period of time, if there was a sharp downturn, we would want to maintain as much of that experiences as we could, and weather the storm, if you will, to move on through things from there, because they’re very important in terms of our solution set and our ability to deliver for clients going forward from there. But — so we do have variability in our people aspects of things. Some facilities are fixed. Other facilities are tied to client contracts, so it’s a bit of mixture.

 

<Q – Marco Rodriguez – Stonegate Securities, Inc.>: Got it. Thanks a lot guys.

 

<A – Mark Layton – PFSweb, Inc.>: Thank you, Marco.

 

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