Bluefly.com reports strong Q3
Q3 sales at Bluefly Inc., operator of Bluefly.com, which sells off-price designer fashions, grew by nearly 48%, the company reported today. Net sales in the third quarter of 2001 increased to $5.1 million from $3.5 million in the third quarter of 2000. The company attributes the growth in net sales purchases by repeat customers, which grew to 64% of sales in the third quarter of 2001 from 51% a year ago, and to a 33% increase in average order size, to $144 from $108.
Net loss decreased by over 49% to $2.4 million in the third quarter of 2001 from $4.8 million.
Bluefly says it cut its customer acquisition costs from $57.45 a year ago to $23.73 in Q3.
"I am extremely pleased by our results this quarter, especially in light of the fact that many retailers are reporting declining sales and weakening margins," said Ken Seiff, CEO. "Better access to merchandise and strong sales coupled with our diligent approach to reducing expenses produced what I believe to be our strongest quarter ever."
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