Gift & accessory retailer RedEnvelope Q1 sales up 18.2%
03 Aug '05
5 min read
Balance Sheet
The Company's inventory position is at a seasonal low, providing what it believes to be appropriate inventory for its annual summer sale. Cash and short-term investments along with their current liabilities are also consistent with the Company's expectations for the quarter.
Business Highlights
- For the first quarter of fiscal year 2006, net revenues from existing customers represented approximately 55 percent of total net revenues.
- For the first quarter of fiscal year 2006, based on an internal quality control sampling of outbound orders, the Company processed orders with an accuracy rate of just over 99.9 percent.
- For the first quarter of fiscal year 2006, net revenue per order increased to approximately $80 from approximately $76 during the first quarter of fiscal 2005, and gross profit per order increased to approximately $42 from approximately $40 in the first quarter of fiscal 2005.
- At the end of the first quarter, RedEnvelope's customer file totaled approximately 2.5 million names, a growth of approximately 139,000 customers.
- Jewelry was the Company's largest product category, representing approximately 27 percent of net revenues.
- For the first quarter of fiscal 2006, the Company shipped approximately 312,000 orders, an increase of approximately 12 percent over the first quarter of fiscal 2005.
Currently RedEnvelope anticipates revenue growth for fiscal 2006 of at least 20 percent with positive net earnings.
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