fashionmall.com Inc.’s annual revenue grew 46%

fashionmall.com Inc. today reported total revenue of $1.7 million for the fourth quarter 2000, up 58% from the fourth quarter of 1999 of $1.08 million.

Total revenues were $5.39 million for the current year vs. $3.69 million in the prior year; an increase of 46%. Barter represented 17% of total revenue for the year as compared to 35% for the same period in the prior year. Excluding barter, revenues grew by 87%. Net loss to common shareholders for the fourth quarter 2000 is $917,000, 12 cents per share. Net loss to common shareholders for the same quarter in the prior year was $3.34 million, 44 cents per share. For the year ended December 31, 2000, net loss to common shareholders is $7.03 million vs. $9.4 million for the prior year.

CEO Ben Narasin noted that, "We had roughly $1 million in dedicated expenses for the re-launch of Boo.com during the 4th quarter of 2000, and while most of those costs will not continue, the expense was a necessary investment to get the Boo web site live and positioned to be offered to advertisers." Narasin commented further, "Although, based on our performance to date, we expect our Q1 2001 revenues to be approximately the same as Q1 2000 revenues, based on the turmoil in the Internet space and the effect it is having on our customers and business in general, we expect revenues for the full fiscal 2001 year to decline, perhaps substantially, as compared to 2000. We also expect to significantly reduce expenses compared to year 2000, and certainly compared to Q1 2000, on a going forward basis, including an elimination of many of the expenses related to the re-launch of Boo.com."

fashionmall.com, Inc. operates a variety of vertical shopping and content portals in the fashion, beauty and lifestyle space including www.fashionmall.com, www.boo.com, www.outletmall.com, www.styleexperts.com, www.itsybits.com, and has recently acquired mxgonline.com and beautyjungle.com.