Bluefly’s Q3 revenue grows 38.8%, net loss drops 13.3%
Revenue at Bluefly Inc., an online retailer of designer brands, increased 37.9% to $12 million in the third quarter from $8.7 million a year earlier. Net loss for the quarter decreased 13.3% to $1.7 million from $1.96 million in 2004’s third quarter.
“We continue to see the success of the implementation of the merchandising strategy and are excited about the initial reaction to our national marketing campaign,” said CEO Melissa Payner-Gregor. “We believe that the two coupled together will allow us to achieve sustained growth throughout the fourth quarter and expand awareness of Bluefly.”
The operating loss also decreased, dropping 16.7% to $1.5 million from $1.8 million year-over-year. Marketing expenses for the third quarter increased 339% from the year-earlier period, primarily due to the $900,000 national marketing campaign.
Bluefly, which ranks 123 in the Internet Retailer Top 400 Guide to Retail Web Sites, acquired 28,762 new customers during the third quarter, up 11.5% from 25,792 customers acquired in 2004’s third quarter.
The gross average order size for the quarter increased 27.4% to $288.72 from $179.48 a year earlier. The gross margin increased to 38% from 34.2% in the third quarter of 2004.
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