Bluefly’s Q4 revenue grows 46% to a record $21.1 million
Revenue at Bluefly Inc., an online retailer of designer brands, increased 46% to a record $21.2 million in the fourth quarter, up from $14.5 million a year earlier. However, Bluefly reported a $55,000 net loss for the quarter, compared with net earnings of $7,000 in the year-earlier period.
For the year ended Dec. 31, Bluefly reported a 34% increase in revenues to $58.8 million from $43.8 million at year-end 2004. Net loss for the year increased to $3.82 million from a net loss of $3.79 million a year earlier.
“We are extremely pleased with our fourth quarter and full-year results,” said Melissa Payner-Gregor, CEO. “Bluefly successfully drove top-line sales to record levels in the fourth quarter while we expanded our margins by 150 basis points in the quarter and 160 basis points for the full year.”
Payner said a $3.2 million national marketing campaign in the last half of the year helped boost sales. “We will continue to invest in this campaign in fiscal 2006 and are planning for solid increases in our top-line results, while maintaining margin levels comparable to those achieved in 2005,” she said.
Marketing expenditures during the fourth quarter increased to $3.3 million from $601,000 in the year earlier period. For the year, marketing spending increased to $6.3 million from $1.5 million in 2004.
Bluefly acquired 53,887 new customers during the fourth quarter, up 27% from 42,572 from the year-earlier quarter. For the year, Bluefly acquired 148,975 new customers, a 17% increase from 127,177 at year-end 2004.
The gross average order size increased 17.5% to $220.17 in 2005 from $187.32 in 2004.
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