Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Fashion / Bluefly CEO pleased with Q4 performance
Bluefly CEO pleased with Q4 performance
07
Mar '09
Bluefly Inc, a leading online retailer of designer brands, fashion trends and superior value, announced continued growth in operating results as well as a reduction in operating and net loss for the full year and fourth quarter of 2008.

Highlights for the full year 2008 include:
• Revenue increased by approximately 5% to $95.8 million from $91.5 million in 2007.
• Gross profit increased by approximately 8% to $35.5 million from $32.7 million in 2007.
• Gross margin increased by 130 basis points to 37.1% from 35.8% in 2007. This increase in gross margin is attributable to increased sales of higher margin products and cost efficiencies of inventory purchases.
• Operating loss decreased 33% to $10.8 million from $16.1 million in 2007 attributable to a decrease in marketing and noncash share-based compensation expenses.
• Net loss decreased by approximately 28% to $11.3 million from $15.8 million in 2007. Loss per share decreased to $0.90 per share (based on 13.4 million weighted average shares outstanding after preferred stock dividends) from $1.21 per share in 2007 (based on 13.1 million weighted average shares outstanding after preferred stock dividends).
• Average order size increased to $279.72 in 2008 compared to $276.58 in 2007.

Highlights for the fourth quarter 2008 include:
• Revenue decreased by approximately 8% to $27.4 million from $29.7 million in the fourth quarter of 2007 primarily attributable to the significant deterioration in the U.S. and global economies during the fourth quarter of 2008.
• Gross profit remained relatively unchanged at approximately $10.1 million compared the fourth quarter of 2007.
• Gross margin increased by 270 basis points to 37.0% from 34.3% in the fourth quarter of 2007 attributable to a decrease in inventory reserves as the prior year included a write-off in the fourth quarter of 2007.
• Operating loss significantly decreased by 79% to $1.2 million from $5.5 million in the fourth quarter of 2007 attributable to a decrease in marketing and non-cash share-based compensation expenses.
• Net loss significantly decreased by approximately 75% to $1.4 million from $5.6 million in the fourth quarter of 2007. Loss per share decreased to $0.10 per share (based on 13.7 million weighted average shares outstanding after preferred stock dividends) from $0.42 per share in the fourth quarter of 2007 (based on 13.2 million weighted average shares outstanding after preferred stock dividends). The decrease in net loss per share is attributable to a decrease in operating loss and a decrease in preferred stock dividends. All 571 remaining shares of Series F Preferred Stock as of September 30, 2008 were converted into common stock during the fourth quarter of 2008.
• Average order size slightly decreased to $271.98 in the fourth quarter of 2008 compared to $274.38 in the fourth quarter of
2007.

“While we continually strive to increase revenues, we arepleased with our performance during the fourth quarter, particularly given the economic downturn and the performance of some of our direct competitors.” said Melissa Payner, Bluefly's Chief Executive Officer. “We believe that as an online pure play we provide a compelling value proposition in this new and challenging economy.”

Bluefly Inc


Must ReadView All

Sri Lanka reduces VAT on imported fabric to 5%

Textiles | On 24th Sep 2018

Sri Lanka reduces VAT on imported fabric to 5%

Considering the requests made by the stakeholders in the fabric...

Courtesy: Andritz

Textiles | On 24th Sep 2018

'Strength of economy, demographics drive nonwovens demand'

The strength of the economy and demographic trends are the main...

ITC helps bolster Chinese investment in Ethiopian textile

Textiles | On 24th Sep 2018

ITC helps bolster Chinese investment in Ethiopian textile

Major Chinese textile firms are stepping up sourcing and investment...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Manuj Terapanthi, Texaura

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search