Bluefly sales rise 5% in 2008

Online apparel retailer Bluefly Inc. reported fiscal 2008 revenue of $95.8 million, a 5% increase from $91.5 million in fiscal 2007. By comparison, sales at Bluefly.com rose by 19% from 2006 to 2007.

Bluefly, No. 128 in the Internet Retailer Top 500 Guide, reported that average order size increased by 1.1% to $279.72 in 2008, compared with $276.58 in 2007. Net loss for the fiscal year ended Dec. 31, 2008, decreased by about 28%, from $15.8 million in 2007 to $11.3 million in fiscal 2008.

For the fourth quarter of fiscal 2008 revenue decreased by about 8% to $27.4 million from $29.7 million in the prior year quarter. Bluefly attributed the decline to the U.S. and global economic situation late last year.

Average order size decreased in Q4 2008 to $271.98 compared with $274.38 in the fourth quarter of 2007. Net loss in Q4 2008 decreased by about 75% to $1.4 million from $5.6 million in the fourth quarter of 2007.