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Tuesday, November 10, 2009 |
Third quarter web sales drop for Bluefly.com
Sales for discount apparel retailer Bluefly.com Inc. declined in the third quarter, but the company also narrowed its net loss.
For the quarter ended Sept. 30, Bluefly reported:
- Web sales decreased 13.6% to $17.1 million from $19.8 million.
- Net loss was $915,000 compared with $5.7 million in the prior year.
- The average order was $274.58 compared with $292.03 in the prior year.
- The company added 34,753 new customers.
- Spending on sales and marketing decreased 63.4% to $1.5 million from $4.1 million.
- Spending on selling and fulfillment declined 24.5% to $3.7 million from $4.9 million.
“We are cash flow positive for the quarter and the year, EBITDA positive for the quarter, reduced our operating loss by almost $4.4 million compared to the prior year and we realized faster inventory turns,” says CEO Melissa Payner. “Our ability to manage the business and the power of the Bluefly value proposition is evident in these results, which improved upon the progress we made in the second quarter.” EBITDA stands for earnings before interest, tax, depreciation and amortization.
Bluefly didn’t break out year-to-date financials in its third quarter press release and has yet to file its quarterly report with the U.S. Securities and Exchange Commission. Bluefly is No. 132 in the Internet Retailer Top 500 Guide, (a PDF version of BlueFly’s financial and operating profile can be ordered by clicking on its name).
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