Who's Minding the Store for Toys 'R' Us

摘要

Parents who shop on Toysrus.com this holiday season likely won't know that a company called GSI Commerce is managing the orders behind the scenes. But GSI is ubiquitous: It runs retail Web sites for some 100 brands, including the NFL, Bath & Body Works, Ralph Lauren, Aeropostale, and Toys "R" Us. All told, the company processes $3 billion in annual sales, from which it takes a commission.rnGSI Commerce, based in King of Prussia, Pa., may be invisible tornshoppers, but it's attracting attention on Wall Street. Over the past 12 months the company's stockrnhas shot up 236% as its founder and chief executive, Michael G. Rubin, has gone on an acquisitions rampage. GSI, which lost $16.9 million on nearly $967 million in revenue in 2008, now has $242 million in debt. While the company has been profitable in the past, analysts expect it to lose money again this year. But the 37 -year-old Rubin, who practically grew up running the place and saw the company through the 2001 dot-com bust, insists he has no choice but to keep growing. His goal is to make GSI one of the biggest Web retailing companies in the world. Skeptics wonder if the bets will pay off.