Retailers shift their ad spending from TV, radio and print ads to digital ads.
Online apparel retailer YOOX Group reported $46.9 million in Q1 web sales.
Online apparel retailer YOOX Group reported strong sales in its preliminary financial report for the first fiscal quarter of 2010.
For the first quarter ended March 31, Bologna, Italy-based YOOX, No. 93 in the Internet Retailer Top 500 Guide, reported the following preliminary results (in U.S. dollars):
- Online sales were $46.9 million, a 30.6% increase from $35.9 million in the first quarter of fiscal 2009.
- Total sales were $61.5 million, up by 43.4% from $42.9 million.
- Commercial web services revenue was $14.6 million, a 109% increase from $7.0 million in the first quarter of fiscal 2009.
- Sales in Italy were $14.5 million, a 20.1% increase from $12.0 million.
- Sales to the rest of Europe were $30.26 million, up by 38.7% from $21.81 million in the prior year.
- North American sales were $11.63 million, up by 111.1% from $5.51 million in the first quarter of fiscal 2009.
Online retail sales were from Yoox.com and TheCorner.com, the company’s apparel and accessories web sites. YOOX also owns the YOOX Services unit that provide retailers and manufacturers with technology such as e-commerce platform management and support, order and content management, merchandising, marketing, and fulfillment.