The first game is scheduled for a 2009 release.
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.
This is exactly what I knew was going to happen. I can tell you that Yahoo shareholders are likely pissed and I wouldn’t be surprised if they get hostile over this. Fans of yahoo of course think this is great but they don’t realize the underlying problems the company is facing. Internet search is no longer the hot ticket when it comes to dominating the market. Take Google for example. They aren’t focused solely on search anymore and have embraced many of the web 2.0 technologies like blogging, third party APIs and soon, the mobile phone market.
Google, unlike yahoo keeps reinventing itself by keeping up with what new devices are in demand and how people are using them. I’m not talking about Google today though…I want to talk about how to make some money on Yahoo now.
Though I believe the company is in dire straits, this 15% plummet in price is good for contrarian style investors because it gives you an in.
Yahoo’s growth is around 19% and trades at 32 times earnings which is too low. It should be trading at38 times earnings giving you a price of about $29 where it was fair value before the Microsoft pullout.
That means you can buy it here 5 points down and probably make some money in the next couple weeks as it shakes out the unbelievers. I’d like to see it come back just a little more before buying it but $24 is a good entry and you can buy more on a dip. I’d look for a sell price of $29-$30 within 18 months.
Not that its really going to solve much of the crisis we are in but the government hopes it will stem the bleeding of our economy. According to President Bush, “The money is going to help Americans offset the high prices we’re seeing at the gas pump, the grocery store and also give our economy a boost to help us pull out of this economic slowdown”
I’ll tell you where a lot of that money is going to go if it hasn’t already. Taxes. Yep, most average Americans are putting the money they owe on taxes onto their credit cards which just makes the situation worse and many are going to apply this rebate to those credit cards.
Not me. I’m buying a new bed and some much needed shelving for our house which should be about $1k of the $1500 I’m getting. That leaves a little money for investing and groceries. Sure, I could pay down more of my credit card debt but I’ll let my regular paycheck do that. 
Bluefly’s symbol will change to BFLYD to reflect the split for 20 days after which it will again revert back to BFLY.
This has been a long time coming IMO. Management should have seen the writing on the wall and done this much earlier. Although this is a move in the right direction to meet NASDAQ continued listing requirements, its no guarantee Qualifications panel will accept it which means ultimately that BFLY could be relegated to the OTC market until such a time as they can again meet the strict requirements of trading on the NASDAQ.
Does it matter? Not really. Even if they move to the OTCBB listings, its still a real company that you can track sales and figures on. It’s still speculative and the retail business hasn’t been doing well at all, but I’m sticking with BFLY.
I own shares of BFLY.
http://www.msnbc.msn.com/id/23578967/
Crooks abound everywhere folks, and there’s always some sucker willing to give away their money. Anyone who says they have a sure-fire system that can pick winning stocks all the time is lying. You can make predictions and assumptions based on past performance and several other factors, but there is no sure way to win by trading stocks. If someone tells you they have information on such-and-such company and you could make a lot of money on their stock, just turn around and walk away because you’re more likely to go to jail than cash in. That’s called insider trading and it’s illegal no matter how you look at it.
Hope your trading day was profitable. RUNU took a dive today but not much. I’m still waiting for the volume to pick up and edge over my average price.
Dell has decided to bring their contract renewal sales in-house and drop Rainmaker.
Unfortunately the numbers just don’t work here. Rainmaker is a thinly traded stock to begin with and I suspect the action we are seeing today is a direct result of shorts putting pressure on the stock in anticipation of the earnings announcement next week. Rainmaker is slated to report on 2/13.
2008 estimates are low at best, between .013 cents and .05 cents per share. My problem is they appear to have an incredible amount of growth if you trust the numbers but the math just doesn’t work. By analyst estimates Rainmaker would appear to have 187% growth over the next year putting the stock around $40. The closest RMKR has come to that figure was on April 19, 2004 when the stock hit an all-time high of $17.50. Since then its been tough sailing.
I’d like to believe the sideways price action can stay around the $3 mark until the earnings announcement but I fear there is still too much downside risk here. Should they be able to pull off a UPOD (under-promise, over-deliver) coup on the 13th, we’ll see some good action and the shorts could see a squeeze back to the $6-$7 range. If they miss, however, you could be looking at a potential de-listing from NASDAQ. This happens when a stock trades below the $1 threshold.
Rainmaker needs to concentrate on their core business and forget about what’s happening on Wall Street. The only solution is to start beating earnings estimates each and every quarter. Needham analyst Jonathan Maietta predicts 2009 revenue and, non- GAAP EPS of $90.3 million and $0.34.
Those negative issues could be inflation, high energy prices, interest rate, terrorism, or a continuation of negative developments in the housing and sub-prime sectors. i think in the 3rd and 4th quarter we will start to see the housing and sub-prime woes start to really trickle down in the the economy (and consumer)
With this in mind I think Q3 could be a little difficult to navigate. It is important to note that this bull market has been relentless in the face of many of these negative issues which I have talked about. However if the market cracks it may crack in a way that instills more fear into money managers, dragging down the major averages. It is my view that when markets break, the average investor is usually the one that feels the most pain, ordinary investors sadly are always the last ones in on a good market, and tend to always be the last out. This is sadly how history has repeated itself many times.
I will continue to be actively managing my accounts with both long and short candidates.
