Sales and net income slipped in the third quarter for Odimo Inc., an online retailer which operates Diamond.com, Ashford.com and WorldofWatches.com.
For the third quarter, Odimo, No. 106 in the Internet Retailer Top 400 Guide to Retail Web Sites, reported sales of $9.1 million, compared with sales of $10 million in the third quarter of fiscal 2004, a decrease of 9%. The company also posted a net loss of $3.5 million in Q3, down 12.5% from a net loss of $4 million for the prior year.
For the nine months ended in September, sales increased 8.5% to $33.4 million, compared to $30.7 million in the first nine months of fiscal 2004. For the period January through September, Odimo reported a net loss of $10.4 million compared to a net loss of $24.5 million for the first nine months of 2004.
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