Groupon says its focus is on the bottom line, rather than top-line growth.
Sales were down 12.1% for the quarter and 12.5% for the year to date.
For the quarter ended Sept. 30, Bidz.com, No. 125 in the Internet Retailer Top 500 Guide, reported:
- Web sales were $21.8 million, a 12.1% decline from $24.8 million in the third quarter of 2009.
- Business-to-business e-commerce sales increased year over year 20% to $1.1 million from $917,000.
- The average selling price per order was $190, a 1.6% increase from $187 in the prior year.
- The average number of daily orders decreased 10.4% to 1,312 from 1,465 the third quarter of 2009.
- The average number of items sold per day decreased 28% to 4,964 from 6,899.
- The acquisition cost per new buyer was $46, a 29.2% decrease from $65 in the third quarter of 2009.
- Net loss in the second quarter was $614,000, compared with a net income of $58,000 in the same period of 2009.
“The company's business continues to be impacted by the ongoing weakened economy, as well as by an overall slowdown in consumer demand for jewelry,” says Bidz.com.
For the first nine months, Bidz.com reported:
- Web sales were $70.9 million, a 12.5% decline from $81.0 million in the first three quarters of 2009.
- Net loss was $1.4 million compared with net income of $2.1 million in the prior year.