But the social network’s advertising revenue grew 18.4% during the quarter.
The new site, set to launch in 2011, will feature full-priced items.
Invitation-only online retailer Gilt Groupe Inc. has named Chris Ventry category director and head of business operations and Josh Peskowitz style director of the company's new men's retail site that is set to launch next summer.
Gilt is No. 140 in the Internet Retailer Top 500 Guide.
Though Gilt typically sells items at a discount through limited-time sales to consumers who have signed up as members, the new site will offer products at full price and for longer periods, such as the full season for which the apparel was designed. The site will mark the first time Gilt has focused on products sold at full retail price. Gilt has yet to announce a name for the new site.
Ventry previously worked as vice president of retail consulting firm AlixPartners LLP. Before that he was a senior consultant at consulting firm Kurt Salmon Associates.
Peskowitz previously worked as style editor for Esquire.com. Before that he was fashion editor of Men.Style.com.
"With Chris' depth of understanding and expertise in retail management and operations and Josh's breadth of knowledge and keen eye for style, we're building a truly best-in-class team and the new men's full-price retail site will elevate the bar," says John Auerbach, president of the new site.
The new site is only the latest in a flurry of recent Gilt personnel moves. Earlier this month the retailer promoted David Zucker to chief marketing officer from vice president of customer marketing and named Peter Glusker CEO of Gilt Group Japan and Gilt City Japan. Gilt also recently launched Gilt City Tokyo.