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Thursday, August 6, 2009 |
E-retailer Bluefly narrows its loss as sales fall in Q2
Sales declined for online apparel retailer Bluefly Inc. in the second quarter ended June 30, but the company also made significant improvement in narrowing its net loss.
For the second quarter:
- Sales dropped year over year 14.6% to $19.9 million from $23.3 million in the second quarter of 2008.
- Net loss in the second quarter narrowed 90.7% to $186,000 from $2 million.
- Bluefly posted operating income of $161,000 in Q2 of 2009 compared with an operating loss of $1.9 million in the prior year.
- Average order size in the second quarter was $268.79 compared with $285.14 in the second quarter of 2008.
- Bluefly added nearly 38,000 new customers in the second quarter.
“During this quarter we have proven that we can turn economic challenges into opportunities,” says Melissa Payner, CEO of Bluefly, No. 132 in the Internet Retailer Top 500 Guide. “Our ability to streamline our operations while producing positive operating results is truly a testament to our flexibility as an organization. We are dedicated to continuing to deliver style and value to our customers and to strengthening our position as a leading innovator in online fashion.”
For the first two quarters of 2009, web sales declined year over year by 14.6% to $39.8 million from $46.6 million, although Bluefly has yet to file its quarterly statement with the Securities and Exchange Commission, which contains additional financial details.
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