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Wednesday, August 5, 2009 |
E-commerce revenue falls at Playboy in Q2
E-commerce revenue continues to fall for Playboy Enterprises Inc., which operates PlayboyStore.com and ShoptheBunny.com.
- E-commerce revenue in the second quarter ended June 30 dropped 23.3% to $8.9 million from $11.6 million.
- Total revenue in Q2 declined 15.3% to $62.2 million from $73.4 million in the prior year.
- In the second quarter, e-commerce accounted for 14.3% of total sales.
- Net loss in the second quarter widened 171.9% to $8.7 million from $3.2 million in the second quarter of 2008.
“While we continue to look at ways to improve our business model, particularly in our mature businesses, we have a parallel focus on expanding our revenue base,” says Playboy CEO Scott Flanders.
For the first half of the year:
- E-commerce revenue dropped 32.1% to $18.2 million from $26.8 million.
- Total revenue declined 18.5% to $123.8 million from $151.9 million in the prior year.
- Net loss widened 202.7% to $22.4 million from $7.4 million in the first half of 2008.
“Lower pay site, e-commerce and advertising sales in the 2009 second quarter were responsible for the decline in digital revenues and profits versus the same period last year,” says Playboy, No. 203 in the Internet Retailer Top 500 Guide.
In June, Playboy filed suit in the U. S. District Court for the Northern District of Illinois against eFashion Solutions LLC, its e-commerce provider, for breach of contract. An initial hearing has been scheduled for Aug. 18, according to filed court documents.
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