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Price Checker Please
Online grocer Webvan Group says its fourth-quarter revenue will come in below expectations, but the news isnt all bad: The Foster City, Calif., company says its quarterly loss will be less than previously forecast. Webvan expects revenue to come in at about $84 million, and to post a loss of about 23 cents per share. Analysts had been expecting a loss closer to 26 cents per share.
Stars Struck
Online sporting goods retailer MVP.com suffered its second round of layoffs in one month. The site, which is backed by superstars John Elway, Wayne Gretzky and Michael Jordan, let 79 employees go in December 2000, then was forced to hand out notices to another 36 employees last week. The Chicago-based company has also closed offices in Austin, Texas, and Boulder, Colo.
Smaller in Texas
Fast-delivery specialist Kozmo.com will shut down its operations in Houston and San Diego and lay off about 120 employees. The New York company, which delivers snacks, videos, books and music on short notice, says demand wasnt strong enough in the two markets to maintain the service.
Finally, Good News
Supply chain software specialist i2 Technologies offered some relief from the steady barrage of warnings about disappointing earnings by saying that it expects its fourth-quarter sales and operating income will beat expectations. The Dallas company expects to report record sales of at least $370 million in the fourth quarter, well above estimates of $343 million.
Online Engine Revs
Online efforts were responsible for about $1 billion in new-vehicle sales at Ford Motor last year, the company reports. The automaker logged 115 unique visitors to its Web sites, as consumers researched vehicles before making purchases. Five percent of sales at Fords Auto Collection stores were made online.
Lotus Restructuring
Groupware and messaging specialist Lotus Development is planning a restructuring that will likely involve closer ties to parent IBM. The plan was outlined in an internal memo from Chief Executive Al Zollar. Separately, Cliff Reeves, who headed the firms knowledge management division, has left. Lotus is about to unveil the next part of its Raven knowledge management initiative.