Target and Toys R Us posted overall sales declines during the holidays.
Priceline.com said today it anticipates third quarter 2000 revenues will be below the range of analysts' estimates for the company. Priceline said it expects third quarter revenues would be $340 million to $345 million, compared to analysts' estimates of $360 million to $380 million. By comparison, 3rd quarter 1999 revenue was $152.2 million. Revenues will be below the company's expectations due to a shortfall in revenue from the sale of airline tickets, which it expects will be $20 million to $25 million less than in the second quarter of 2000. Priceline.com said that, although total customer offers for airline tickets and unit tickets sales are expected to be at or above second quarter 2000 levels, revenue from airline ticket sales decreased as a result of a decline in the percentage of offers accepted and a lower average offer price. Priceline.com said it anticipates that its net loss in the third quarter before option payroll taxes, non-cash supplier warrant charges and non-cash dividends on preferred stock will be essentially flat with the 2nd quarter 2000, 1 cent per share.