Bluefly posts a solid second quarter
Online apparel retailer Bluefly Inc. is reporting a solid second quarter. For Q2 Bluefly had total sales of $16.8 million, an increase of 39.5% over $12 million in the second quarter of 2005.
Bluefly, No. 129 in the Internet Retailer Top 500 Guide to Retail Web Sites, also gained approximately 37,800 new customers during its second fiscal quarter, an increase of approximately 28% over the second quarter of 2005. Bluefly ended the quarter with a cash balance of approximately $24 million, the company said in a recent SEC filing.
In June Bluefly announced a major new investor, reporting that Maverick Capital Ltd. and an entity affiliated with Prentice Capital Management LP reached a definitive agreement to purchase $50 million of newly issued common stock from Bluefly.
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