Given these situations, the numbers from Bluefly aren’t that bad. I expected a loss simply because money is too tight for most people to be squandering it on a Dolce & Gabanna dress or a Louis Vuitton handbag. So with that in mind, the figures reported are pretty good. Here’s the article from Business Wire
NEW YORK, May 07, 2008 (BUSINESS WIRE) — Bluefly, Inc. (NASDAQ SmallCap:BFLY), a leading online retailer of designer brands, fashion trends and superior value ( www.bluefly.com ), today announced strong growth in revenue for the first quarter 2008.
Highlights for the first quarter included:
– Revenue increased by approximately 14% to $25.2 million from $22.1 million in first quarter 2007;
– Gross profit increased by approximately 7% to $8.9 million from $8.4 million in the first quarter of 2007;
– Gross margin decreased by 250 basis points to 35.4% from 37.9% in first quarter 2007;
– Operating loss decreased to $2.9 million compared to $3.2 million;
– Average order size increased to $273.65 in 2008 compared to $269.21 in 2007;
– Net loss decreased to $2.9 million from $3.1 million. Loss per share decreased to $0.22 per share from $0.24 per share (based on 13.3 million weighted average shares outstanding after preferred stock dividends in 2008 and 12.9 million weighted average shares outstanding after preferred stock dividends in 2007, both adjusted for the 1 for 10 reverse stock split).
“I am encouraged by the first quarter results, given the softness of the overall retail environment,” said Melissa Payner, Bluefly’s CEO. “Although we made the decision to be somewhat promotional in the early part of the first quarter, we were encouraged by the growth we saw in the margin once we launched our spring collection.”
I own shares of Bluefly.
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