The $67 million investment in Allopneus will help Michelin better understand online tire buyers, the tire maker says.
Q2 sales tumbled at online jewelry retailer and auctioneer Bidz.com Inc. Sales and net income in the quarter declined by 51.1% and 82.2%, respectively.
Sales tumbled at online jewelry retailer and auctioneer Bidz.com Inc. in the second quarter
In the second quarter ended June 30:
- Revenue declined 51.1% to $26.9 million from $55 million in the second quarter of 2008.
- Net income decreased year over year 82.8% to $620,000 from $3.6 million.
- The average order value in Q2 2009 declined 1.6% to $180 from $183 in the prior year.
- New buyers decreased year over year 40.5% to 38,577 from 64,882.
- Average items sold per day in Q2 2009 declined 40.9% to 5,956 from 10,082 in Q2 2008.
For the first half of the year:
- Total revenue declined 50.3% year over year to $58.1 million from $116.9 million.
- Net income decreased 74.4% to $2.1 million from $8.2 million in the prior year.