2006 revenue for online discount apparel retailer Bluefly Inc. grew 31% over 2005 revenue to $77.1 million from $58.8 million, the company reports. Net loss increased to $12.2 million from $3.8 million. Average order size increased 17% to $257.64 from $220.17 in the fourth quarter of 2005.
The company also reported that operating loss increased to $12.1 million from $3.1 million for 2005. The growth was primarily a result of $4.5 million in stock-based compensation, a year-over-year increase of $6.4 million in marketing and advertising spending and executive bonuses of $675,000 in connection with a recent financing.
"We are pleased by the company's record revenue for the year," says Melissa Payner, CEO. "Our strong growth in the face of slow cold-weather product sales throughout the industry is a testament to our continued progress and to the investment we have made in growing our customer file through our increased marketing efforts."
In the fourth quarter, revenue increased 28% to $27.1 million from $21.2 million a year earlier and Net loss increased to $3.5 million from $55,000.
Bluefly, No. 129 in the Internet Retailer Top 500 Guide, sells designer apparel and accessories at discount prices at Bluefly.com.
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