November 15, 2006, 12:00 AM

Revenue rises 35.5% year-over-year in Bluefly’s Q3

Revenue at fashion apparel e-retailer Bluefly Inc. rose 35.5% to $16.3 million for the third quarter ended September 30, up from $12 million a year ago, as gross profit rose 33.6% to $ 6.1 million from $4.6 million, the company reported.

Revenue at fashion apparel e-retailer Bluefly Inc. rose 35.5% to $16.3 million for the third quarter ended September 30, up from $12 million a year ago, as gross profit rose 33.6% to $ 6.1 million from $4.6 million, the company reported.

“We are extremely pleased with our third quarter results and with the momentum that we have been able to generate leading into the holiday season,” says CEO Melissa Payner. “Our advertising campaign continued to have a positive impact on the business, helping us to increase the number of new customers acquired in the quarter by over 25%. At the same time, our merchandising strategy and continuous improvement of our web site contributed to an approximately 35% increase from existing Bluefly customers.”

Q3 net loss, however, widened to $3.5 million from $1.7 million a year ago, as selling, marketing and fulfillment expenses rose 61% year-over-year to $7.37 million, or 45% of revenue, from $4.57 million, or 38% of revenue.

Bluefly said its loss-per-share figure of 3 cents per share was a decrease from 20 cents per share. Weighted average shares increased to 129 million from 15.8 million as the result of previously-announced financing and conversion of the company’s preferred stock into common stock.

Bluefly is No. 129 in the Internet Retailer Top 500 Guide to Retail Web Sites.

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