In its second-largest acquisition, Amazon buys the company for $970 million.
Web sales fell 12% in the first quarter of fiscal 2010 at Playboy Enterprises. Total sales were down by 15.4%.
Playboy Enterprises Inc.’s first quarter financial numbers, including e-commerce, declined, but the net loss improved.
For the first quarter ended March 31, Playboy reported:
- E-commerce sales were $8.3 million, a 10.8% decline from $9.3 million in the prior year quarter.
- Total sales were $52.1 million, down by 15.4% from $61.6 million in the first quarter of 2009.
- Net loss was $1.0 million, compared to a net loss of $13.7 million in the same period last year.
Based on Internet Retailer calculations, the web represented 16.0% of sales for the first quarter, compared with 15.1% in Q1 of 2009.
“With expenses better under control, we are focusing on effectively executing our business strategy,” says CEO Scott Flanders. “Our goal is to transition Playboy to a brand management company, and our first priority is to outsource, partner or license those of our operations that can be more efficiently handled by other companies.”
Playboy is No. 268 in the Internet Retailer Top 500 Guide.