First quarter revenue at online and catalog retailer RedEnvelope Inc. increased 19% to $21.1 million from $17.7 million in the first quarter last year, the company reported today. Net loss was $952,000 compared to a net loss of $1.2 million a year earlier. The average order was $72 vs. $69 a year ago. RedEnvelope shipped 295,000 orders in the quarter.
RedEnvelope, No. 92 in Internet Retailer's Top 300 Guide to online retialers, reports that based on a sampling of orders, the accuracy of order fulfillment for Mother's Day and Father's Day was 99%. In addition, nearly all orders were processed within 24 hours of receipt of the order. In addition, average turnaround time for personalized products for Mother's Day and Father's Day was one day.
RedEnvelope had 1.9 million customers on file at the end of the quarter. Revenues from existing customers represented 52% of total revenues.
The company also reported that product revenues from customers who receive catalogs increased 29% while revenues attributed to online marketing channels grew 21%.
RedEnvelope also said it plans to undertake national print and outdoor advertising campaigns. It also plans to replace its front-end system with an application from Multimedia Live.
Full-year revenue will reach $94 million to $97 million, the company expects.
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