The city is broadening the reach of its 9% “amusement tax” to include streaming entertainment services like Netflix and Spotify.
But net loss widened on higher acquisition costs.
The second quarter was a pretty good one for web-only T-shirt retailer CaféPress Inc., with solid gains in sales, total orders and paying customers.
For the quarter ended June 30, CaféPress, No. 112 in the 2012 Internet Retailer Top 500 reported:
- Sales increased 26.3% to $47.1 million from $37.3 million in the second quarter of 2011.
- Net loss was $260,000 vs. a net loss of $129,000 in the prior year. Net loss was wider as the result of slightly bigger expenses associated with the acquisition of Logosportswear.com, a customized clothing online retailer CafePress acquired for $8.3 million in March.
- The number of customers placing at least one order increased 17.2% to 737,148 from 629,170 in the second quarter of 2011.
- Total orders grew year over year 19.7% to 888,439 from 742,529.
- Spending on sales and marketing grew 35.6% to $11.8 million from $8.7 million in the second quarter of 2011.
- Spending on technology and development increased year over year 3.2% to $3.2 million from $3.1 million.
- Spending on general and administrative expenses grew 23.5% to $4.2 million from $3.4 million in the second quarter of 2011.
“We are encouraged by strong e-commerce trends towards customization coupled with recent initiatives, including expansion of our licensed content relationships, growth in large shops such as those for ABC and National Geographic, new mobile and social functionality and solid performance from our most recent acquisition, Logosportswear.com,” says CEO Bob Marino.
For the first two quarters:
- Sales increased 25.2% to $86.9 million from $69.4 million in the first two quarters of 2011.
- Net loss was $804,000 vs. a net loss of $960,000 in the prior year.
- Spending on sales and marketing grew 31.9% to $21.9 million from $16.6 million in the first two quarters of 2011.
- Spending on technology and development decreased year over year 7.6% to $6.1 million from $6.6 million.
- Spending on general and administrative expenses grew 32.8% to $8.1 million from $6.1 million in the first two quarters of 2011.