Bluefly’s net loss improves in the first quarter
Online apparel retailer Bluefly Inc. is reporting a sales increase of 31% for the first quarter and a smaller net loss.
In Q1 2007, Bluefly, No. 49 in the Internet Retailer Top 500 Guide, reported a net loss of $3.1 million on revenue of $22.1 million vs. a net loss of $3.3 million on sales of $16.9 million in Q1 2006.
“We’re pleased with the 31% growth in revenue for the first quarter, especially given the marketing spend is down 13% year over year,” says Melissa Payner, CEO. “The decrease in the marketing spend is due to the shifting of the launch of television advertising from mid-February to mid-March to better coordinate with our spring product launch.”
In Q1 Bluefly’s average order size increased by more than 10% to $269.21 from $243.92 in the first quarter of 2006.
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