Overstock.com`s sales increase 6% in Q2, as net loss widens
Sales at discount e-retailer Overstock.com Inc. rose 6% in the second quarter of 2006 ended June 30. The pure-play brought in $160 million compared with $150.6 million during the same period last year. For the six months ended June 30, 2006, sales hit $340.2 million, a 7% increase over $316.5 million during the same period in 2005.
Gross profit for Q2 2006 rose 1% to $23 million from $22.7 million in Q2 2005. For the first six months of this year gross profits registered $48.2 million, a 1% increase over $47.5 million during the same period in 2005.
Net loss for Q2 2006 was $15.7 million compared with $1.9 million in 2005. For the six months ended June 30, net loss totaled $31.6 million compared with $6.2 million in 2005. The widened loss coincided with year-to-year increases of 146% or $9 million in technology expenses and 65% or $5 million in general-and-administrative expenses.
Overstock.com is an online “closeout” e-retailer that offers discount, brand name merchandise. The company is No. 18 in the Internet Retailer Top 500 Guide to Retail Web Sites.
Back...
