Bluefly Inc's net revenue for Q3 up 38.8% & gross profit boost 54.2%
08 Nov '05
2 min read
New York based leading online fashion products retailer Bluefly Inc announced that its net revenue for the third quarter increased by 38.8 percent, to approximately $12,045,000, from approximately $8,675,000 in the third quarter of 2004. Gross profit increased by 54.2 percent for the third quarter of 2005, to approximately $4,575,000 from $2,966,000 in the third quarter of 2004.
"They are pleased with quarterly performance," said Bluefly CEO and President, Melissa Payner-Gregor. "They continue to see the success of the implementation of the merchandising strategy and are excited about the initial reaction to their national marketing campaign. They believe that the two coupled together will allow us to achieve sustained growth throughout the fourth quarter and expand awareness of Bluefly."
Other financial results for the third quarter of 2005 were as follows:
-- Net loss for the third quarter decreased by 13.1 percent to $1,703,000 (or $0.20 per share) from $1,960,000 (or $0.21 per share) in the third quarter of 2004.(1)
-- Operating loss for the third quarter decreased by 16.8 percent to $1,521,000 from $1,829,000 in the third quarter of 2004.
-- Gross margin percentage for the third quarter increased to 38.0 percent from 34.2 percent in the third quarter of 2004.
-- Marketing expenses for the third quarter increased by 339 percent compared with the third quarter of 2004. This increase is primarily attributed to the additional $900,000 in the quarter associated with our national marketing campaign.