Women’s clothing brand Roman Originals has been inundated by calls since the photo became the center of an online debate.
Overstock.com added 796,000 new customers in the first quarter ended March 31, a rise of 86% from the 429,000 customers added in the year-ago period, it says in a government report filed yesterday.
Overstock.com added 796,000 new customers in the first quarter ended March 31, a rise of 86% from the 429,000 customers added in the year-ago period, it says in a 10Q financial report filed yesterday with the Securities and Exchange Commission. Gross bookings, the value of all transactions on Overstock including those for which it only earns commissions, rose 97% to $184.2 million from $93.4 million, it said.
But the expanded customer base came at a big price, as Q1 sales and marketing expenses rose almost four-fold to $16.8 million from $4.4 million a year ago, Overstock said. It noted that it received “disappointing results” from a $2.6 million TV advertising campaign conducted outside of its normal ad budget.
Overstock said its marketing efforts resulted in a 172% year-over-year increase in web site traffic, but that much of the increase has been tied to lower traffic-to-sales conversion rates as well as to traffic to its auctions section.
As previously reported, Overstock posted a Q1 net loss of $4.2 million, compared to a year-ago net loss of $2.3 million, while revenue rose 102% to $165.9 million from $82.1 million.
On a positive note, Overstock said Q1 fulfillment costs declined as a percentage of revenue to 7%, down from 8% a year ago. Due to increased volumes and improved vendor relationships, it said, Overstock saw declines in both inbound and outbound shipping costs.