Retailers shift their ad spending from TV, radio and print ads to digital ads.
Sales increased 9% and approached $90 million
Bluefly ended 2010 with a healthy increase in sales and a lower net loss.
For the year ended Dec. 31, Bluefly, No. 163 in the Internet Retailer Top 500, reported
- Sales increased 9.1% to $88.6 million from $81.2 million in 2009.
- Net loss was $4 million compared with a net loss of $4.4 million in 2009.
“As we begin fiscal 2011, we are pleased with our positioning,” says CEO Melissa Payner. “Our priorities are focused on continuing to expand our customer base as we present sought-after brands, the latest trends and great value in a convenient way to shop online.”
For the fourth quarter Bluefly posted:
- An increase in web sales of 17.2% to $28.6 million from $24.4 million in the fourth quarter of 2009.
- Net income was $269,000 compared with a net loss of $148,000 in Q4 2009.
- Average ticket increased year over year 6.9% to $293 from $274.
“Our strategic investment in inventory complemented by the success of our Closet Confessions marketing campaign drove increased average order size and new customer acquisition leading to double-digit top-line sales, which resulted in a profitable fourth quarter,” says Payner.