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Merchandising strategy pays, says fashion retailer Bluefly

09 Aug '05

1 min read

New York based leading online fashion products retailer Bluefly Inc announced its revenue for the second quarter increased by 26.7%, to approximately $12,029,000, from approximately $9,495,000 in the second quarter of 2004. Gross profit increased by 22.2% for the second quarter of 2005, to approximately $4,651,000 from $3,807,000 in the second quarter of 2004.

"They continue to experience growth resulting from the development of the in-season and on-trend merchandising strategy that they began to implement in the Spring of 2004," said Bluefly CEO Melissa Payner. "They have now exceeded prior year sales comparisons for each of the last eight months. In addition, during the past six weeks, they have closed on a $7 million equity financing and a new $7.5 million credit facility with Wells Fargo in advance of the launch of their national advertising campaign this fall. These developments put us in a great position to grow their business and should continue to yield positive results throughout the year."

US based fashion branded products seller Bluefly Inc founded in 1998, is a principal online retailer has headquarters at 42 West 39th Street in New York City, in the heart of the Fashion District.

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